First Interstate Bank Has $250,000 Stock Position in Waste Management, Inc. (NYSE:WM)

First Interstate Bank raised its position in Waste Management, Inc. (NYSE:WM) by 20.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,205 shares of the business services provider’s stock after acquiring an additional 206 shares during the period. First Interstate Bank’s holdings in Waste Management were worth $250,000 as of its most recent filing with the SEC.

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

Waste Management Price Performance

Shares of NYSE WM traded down $1.86 during trading hours on Friday, reaching $213.99. 1,267,741 shares of the stock traded hands, compared to its average volume of 1,302,040. The company has a market capitalization of $85.89 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company’s 50-day simple moving average is $209.34 and its two-hundred day simple moving average is $208.83. The company has a quick ratio of 1.03, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 52-week low of $162.34 and a 52-week high of $225.00.

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. The company 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 firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.28 EPS for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.40%. Waste Management’s payout ratio is currently 45.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Robert W. Baird dropped their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Truist Financial lifted their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.05.

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.