1,012 Shares in Waste Management, Inc. (NYSE:WM) Purchased by Seed Wealth Management Inc.

Seed Wealth Management Inc. acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the first quarter, Holdings Channel reports. The fund acquired 1,012 shares of the business services provider’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morgan Stanley boosted its holdings in Waste Management by 0.7% in the 3rd quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock valued at $1,061,521,000 after purchasing an additional 46,084 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Waste Management by 1.3% during the third quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock worth $794,174,000 after acquiring an additional 66,816 shares during the period. Parnassus Investments LLC raised its position in Waste Management by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock worth $859,624,000 after acquiring an additional 16,213 shares in the last quarter. Norges Bank purchased a new stake in shares of Waste Management during the 4th quarter worth $784,486,000. Finally, Capital World Investors boosted its holdings in Waste Management by 40.6% during the fourth quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock worth $523,581,000 after buying an additional 844,298 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James upped their price objective on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their target price on Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a report on Friday, April 26th. Robert W. Baird increased their price objective on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Finally, CIBC raised their target price on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.61.

Waste Management Stock Performance

Shares of Waste Management stock traded down $0.06 during trading hours on Thursday, reaching $212.61. The company’s stock had a trading volume of 1,762,419 shares, compared to its average volume of 1,721,490. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54. The company’s 50 day simple moving average is $207.78 and its 200 day simple moving average is $199.32. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market cap of $85.27 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.31 earnings per share. As a group, analysts expect that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

Waste Management Company Profile

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.