Generate Investment Management Ltd Acquires 64,546 Shares of Waste Management, Inc. $WM

Generate Investment Management Ltd lifted its stake in Waste Management, Inc. (NYSE:WM) by 303.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,783 shares of the business services provider’s stock after purchasing an additional 64,546 shares during the quarter. Generate Investment Management Ltd’s holdings in Waste Management were worth $18,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Cornercap Investment Counsel Inc. purchased a new stake in shares of Waste Management during the third quarter valued at approximately $1,583,000. Wealthfront Advisers LLC lifted its position in Waste Management by 3.1% in the 2nd quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after acquiring an additional 1,698 shares in the last quarter. GPM Growth Investors Inc. boosted its stake in Waste Management by 50.6% during the 2nd quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after purchasing an additional 5,588 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Waste Management by 62.9% in the 2nd quarter. Truist Financial Corp now owns 268,033 shares of the business services provider’s stock worth $61,331,000 after purchasing an additional 103,487 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Waste Management by 8.1% in the third quarter. Apollon Wealth Management LLC now owns 95,804 shares of the business services provider’s stock worth $21,156,000 after purchasing an additional 7,143 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares of the company’s stock, valued at $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management Trading Down 0.1%

Shares of WM stock opened at $222.13 on Wednesday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The company has a market cap of $89.49 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 2.74 and a beta of 0.58. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The firm has a fifty day moving average price of $212.07 and a 200-day moving average price of $220.25.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. As a group, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s dividend payout ratio is currently 51.97%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. National Bankshares decreased their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Wells Fargo & Company started coverage on shares of Waste Management in a report on Friday, November 14th. They set an “overweight” rating and a $238.00 price objective for the company. Truist Financial set a $260.00 target price on shares of Waste Management in a research report on Wednesday, October 29th. Citigroup increased their price target on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, CIBC cut their price objective on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.95.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.