Waste Management, Inc. (NYSE:WM) Shares Sold by Palmer Knight Co

Palmer Knight Co reduced its position in Waste Management, Inc. (NYSE:WM) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 39,466 shares of the business services provider’s stock after selling 88 shares during the period. Waste Management accounts for about 4.3% of Palmer Knight Co’s holdings, making the stock its 4th biggest holding. Palmer Knight Co’s holdings in Waste Management were worth $7,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. abrdn plc grew its stake in shares of Waste Management by 315.7% in the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock valued at $222,165,000 after purchasing an additional 1,106,773 shares during the last quarter. Mirova US LLC increased its stake in shares of Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after acquiring an additional 910,418 shares during the period. Nordea Investment Management AB boosted its stake in shares of Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after buying an additional 776,491 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in Waste Management by 128.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock valued at $137,012,000 after acquiring an additional 504,924 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Waste Management by 13,927.7% during the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock worth $90,319,000 after buying an additional 500,701 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of several recent research reports. Truist Financial boosted their price objective on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Royal Bank of Canada boosted their price objective on shares of Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research report on Friday. BMO Capital Markets raised their price objective on Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Raymond James lifted their price target on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.21.

Insider Buying and Selling at Waste Management

In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now directly owns 29,677 shares in the company, valued at $6,217,331.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the transaction, the executive vice president now owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the completion of the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at approximately $19,804,339.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by insiders.

Waste Management Stock Up 0.9 %

Shares of Waste Management stock traded up $1.98 during trading hours on Monday, hitting $212.08. 572,996 shares of the company’s stock traded hands, compared to its average volume of 1,657,459. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The stock has a 50 day simple moving average of $208.54 and a 200-day simple moving average of $187.29. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The company has a market cap of $85.06 billion, a PE ratio of 34.64, a PEG ratio of 2.81 and a beta of 0.72.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company posted $1.31 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Waste Management, Inc. will post 7.09 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 14th. Waste Management’s dividend payout ratio is presently 49.10%.

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.