Leo Wealth LLC Makes New $668,000 Investment in Waste Management, Inc. $WM

Leo Wealth LLC bought a new position in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 3,277 shares of the business services provider’s stock, valued at approximately $668,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in shares of Waste Management in the 2nd quarter worth about $322,479,000. Danske Bank A S purchased a new stake in shares of Waste Management during the 2nd quarter worth about $146,053,000. BlackRock Inc. grew its holdings in shares of Waste Management by 1.8% during the 2nd quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider’s stock worth $6,849,981,000 after purchasing an additional 535,079 shares during the period. State Street Corp increased its position in Waste Management by 2.9% during the 2nd quarter. State Street Corp now owns 18,008,931 shares of the business services provider’s stock worth $4,013,831,000 after purchasing an additional 507,209 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Waste Management by 90.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 806,172 shares of the business services provider’s stock worth $185,250,000 after purchasing an additional 382,079 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In related news, CAO John Carroll sold 1,365 shares of Waste Management stock in a transaction on Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the sale, the chief accounting officer owned 3,509 shares in the company, valued at approximately $771,629.10. The trade was a 28.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE WM opened at $241.31 on Tuesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The business has a 50 day moving average price of $216.99 and a two-hundred day moving average price of $224.77. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The firm has a market cap of $96.45 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 3.06 and a beta of 0.42.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%. The company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the business earned $1.92 EPS. Waste Management’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 8.09 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a dividend of $0.9450 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is presently 53.54%.

Analyst Upgrades and Downgrades

WM has been the topic of several research reports. Weiss Ratings upgraded shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Wolfe Research initiated coverage on shares of Waste Management in a research note on Tuesday, September 15th. They set a “peer perform” rating for the company. Morgan Stanley dropped their price objective on shares of Waste Management from $230.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Scotiabank increased their price objective on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada raised their target price on shares of Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $256.06.

About Waste Management

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.