Waste Management, Inc. (NYSE:WM) Position Boosted by Global Wealth Strategies & Associates

Global Wealth Strategies & Associates increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 892.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 139 shares of the business services provider’s stock after buying an additional 125 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Waste Management were worth $28,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after buying an additional 863,846 shares during the last quarter. Swedbank AB increased its holdings in shares of Waste Management by 67.2% during the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares during the period. Los Angeles Capital Management LLC grew its position in Waste Management by 248.5% during the second quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider’s stock worth $210,092,000 after buying an additional 702,188 shares in the last quarter. Finally, Parnassus Investments LLC raised its stake in shares of Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of Waste Management stock traded down $1.69 during midday trading on Thursday, reaching $200.10. The company had a trading volume of 618,839 shares, compared to its average volume of 1,620,574. 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 stock has a fifty day simple moving average of $215.99 and a 200 day simple moving average of $211.60. Waste Management, Inc. has a 1-year low of $176.68 and a 1-year high of $230.39. The company has a market capitalization of $80.31 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Analyst Upgrades and Downgrades

WM has been the topic of several analyst reports. Royal Bank of Canada boosted their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. BMO Capital Markets raised their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 25th. CIBC raised their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.72.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate 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.