Waste Management, Inc. (NYSE:WM) Shares Purchased by Westchester Capital Management Inc.

Westchester Capital Management Inc. lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,602 shares of the business services provider’s stock after purchasing an additional 555 shares during the period. Waste Management accounts for 4.6% of Westchester Capital Management Inc.’s holdings, making the stock its 8th biggest position. Westchester Capital Management Inc.’s holdings in Waste Management were worth $18,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the 2nd quarter valued at $31,000. Fairway Wealth LLC lifted its stake in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Waste Management in the 2nd quarter valued at about $36,000. Fairscale Capital LLC bought a new position in Waste Management in the 2nd quarter valued at about $39,000. Finally, Hexagon Capital Partners LLC lifted its position in Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $224.08 on Friday. The business’s 50-day moving average price is $210.21 and its 200-day moving average price is $209.26. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $226.36. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $89.94 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.31 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is presently 45.87%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WM shares. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Truist Financial boosted their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird cut their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $226.11.

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.