Grove Bank & Trust Grows Position in Waste Management, Inc. (NYSE:WM)

Grove Bank & Trust boosted its stake in Waste Management, Inc. (NYSE:WM) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,278 shares of the business services provider’s stock after buying an additional 78 shares during the period. Grove Bank & Trust’s holdings in Waste Management were worth $265,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WM. Sustainable Growth Advisers LP acquired a new position in shares of Waste Management in the first quarter valued at approximately $300,594,000. Capital World Investors grew its stake in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB purchased a new stake in shares of Waste Management during the first quarter worth $193,955,000. Wulff Hansen & CO. boosted its holdings in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the period. Finally, AMF Tjanstepension AB grew its stake in Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after purchasing an additional 720,358 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WM. Truist Financial lowered their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Robert W. Baird lowered their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, CIBC dropped their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Stock Performance

Shares of WM stock opened at $213.50 on Tuesday. The stock has a market capitalization of $85.68 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock’s 50-day moving average price is $207.60 and its 200 day moving average price is $208.42. Waste Management, Inc. has a 52-week low of $153.95 and a 52-week high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $1.51 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s dividend payout ratio is currently 47.69%.

Waste Management 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.