Second Line Capital LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Second Line Capital LLC purchased a new position in Waste Management, Inc. (NYSE:WM) during the second quarter, HoldingsChannel reports. The institutional investor purchased 1,054 shares of the business services provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management in the 2nd quarter worth $31,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management during the first quarter valued at about $35,000. Fairway Wealth LLC lifted its stake in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of Waste Management during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $205.51 on Monday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a market capitalization of $82.43 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The company’s 50-day simple moving average is $207.07 and its 200-day simple moving average is $208.62.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business posted $1.51 earnings per share. Equities analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.46%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Analyst Upgrades and Downgrades

WM has been the topic of several research reports. Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Royal Bank of Canada cut their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Finally, Robert W. Baird lowered their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $215.83.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.