Concentric Capital Strategies LP Buys Shares of 30,293 Waste Management, Inc. (NYSE:WM)

Concentric Capital Strategies LP purchased a new stake in Waste Management, Inc. (NYSE:WM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 30,293 shares of the business services provider’s stock, valued at approximately $6,289,000.

Several other large investors have also recently made changes to their positions in WM. Benjamin Edwards Inc. boosted its holdings in Waste Management by 486.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 32,380 shares of the business services provider’s stock valued at $6,729,000 after acquiring an additional 26,863 shares during the period. Atom Investors LP lifted its position in shares of Waste Management by 110.0% during the third quarter. Atom Investors LP now owns 17,958 shares of the business services provider’s stock worth $3,728,000 after purchasing an additional 9,406 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Waste Management in the third quarter valued at approximately $214,000. FSA Wealth Management LLC purchased a new stake in Waste Management during the 3rd quarter worth approximately $64,000. Finally, Erste Asset Management GmbH acquired a new stake in Waste Management during the 3rd quarter worth approximately $16,245,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WM has been the topic of a number of recent research reports. Oppenheimer upped their price objective on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. CIBC increased their price target on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average target price of $228.94.

Waste Management Trading Down 0.1 %

NYSE:WM opened at $228.22 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $230.39. The stock’s 50 day moving average price is $215.17 and its 200 day moving average price is $210.71. The company has a market capitalization of $91.60 billion, a PE ratio of 34.90, a P/E/G ratio of 2.40 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. On average, research analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

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.