Wealthspire Advisors LLC Grows Stake in Waste Management, Inc. (NYSE:WM)

Wealthspire Advisors LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,088 shares of the business services provider’s stock after buying an additional 456 shares during the period. Wealthspire Advisors LLC’s holdings in Waste Management were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. abrdn plc raised its holdings in Waste Management by 315.7% in the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after purchasing an additional 1,106,773 shares during the period. Mirova US LLC raised its holdings in 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 valued at $163,680,000 after acquiring an additional 910,418 shares during the period. Nordea Investment Management AB raised its holdings in Waste Management by 16.9% during 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 acquiring an additional 776,491 shares during the period. OMERS ADMINISTRATION Corp raised its holdings in Waste Management by 128.2% during 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 raised 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 valued at $90,319,000 after acquiring an additional 500,701 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.6 %

Shares of Waste Management stock traded up $1.35 on Friday, hitting $211.85. 66,484 shares of the company traded hands, compared to its average volume of 1,650,252. The stock’s 50 day moving average price is $209.09 and its 200-day moving average price is $189.95. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54. The company has a market cap of $84.97 billion, a PE ratio of 34.45, a PEG ratio of 2.71 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 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 during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Waste Management, Inc. will post 7.26 EPS for the current year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.75 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. Waste Management’s payout ratio is 49.10%.

Insider Transactions at Waste Management

In other news, SVP Christopher P. Desantis sold 346 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $199.64, for a total transaction of $69,075.44. Following the sale, the senior vice president now directly owns 8,218 shares of the company’s stock, valued at $1,640,641.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Christopher P. Desantis sold 346 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $199.64, for a total transaction of $69,075.44. Following the sale, the senior vice president now directly owns 8,218 shares of the company’s stock, valued at $1,640,641.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tara J. Hemmer sold 1,782 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total transaction of $363,937.86. Following the completion of the sale, the senior vice president now directly owns 55,591 shares in the company, valued at $11,353,349.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,007 shares of company stock valued at $3,696,520. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. CIBC raised their price target on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Oppenheimer lifted their target price on Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Truist Financial lifted their target price on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, April 26th. TD Cowen lifted their target price on Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Citigroup lifted their target price on Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.24.

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.