1832 Asset Management L.P. Grows Stock Position in Waste Management, Inc. (NYSE:WM)

1832 Asset Management L.P. boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 4.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,136 shares of the business services provider’s stock after buying an additional 865 shares during the period. 1832 Asset Management L.P.’s holdings in Waste Management were worth $4,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. boosted its stake in Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after buying an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC increased its holdings in Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after purchasing an additional 50 shares during the period. McAdam LLC boosted its position in shares of Waste Management by 4.0% during the 1st quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock worth $281,000 after acquiring an additional 51 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Waste Management by 4.4% during the 1st quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock worth $262,000 after acquiring an additional 52 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Waste Management by 2.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WM shares. Royal Bank of Canada cut their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Oppenheimer dropped their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Finally, Truist Financial dropped their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Hold” and a consensus target price of $215.83.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Down 1.5 %

NYSE:WM traded down $2.96 during trading hours on Friday, hitting $196.96. 2,500,282 shares of the stock traded hands, compared to its average volume of 1,486,250. The firm has a 50 day moving average price of $209.51 and a 200 day moving average price of $204.86. The firm has a market cap of $79.00 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

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.