Meeder Advisory Services Inc. Raises Holdings in Waste Management, Inc. (NYSE:WM)

Meeder Advisory Services Inc. lifted its position in Waste Management, Inc. (NYSE:WM) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,189 shares of the business services provider’s stock after acquiring an additional 239 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Waste Management were worth $1,492,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Trium Capital LLP grew its holdings in Waste Management by 33.6% in the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after purchasing an additional 3,029 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after purchasing an additional 5,367 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Waste Management by 417.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock valued at $720,000 after acquiring an additional 2,800 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Waste Management by 32.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock worth $374,062,000 after purchasing an additional 437,613 shares during the period. Finally, Swedbank AB grew its holdings in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. UBS Group upped their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target 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. Finally, Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Stock Performance

NYSE WM opened at $218.31 on Tuesday. The business’s 50-day moving average price is $211.80 and its 200 day moving average price is $209.78. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm has a market cap of $87.62 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $226.84.

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

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. Waste Management’s payout ratio is currently 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.