Mcrae Capital Management Inc. Has $1.58 Million Stake in Waste Management, Inc. (NYSE:WM)

Mcrae Capital Management Inc. grew its position in Waste Management, Inc. (NYSE:WM) by 0.7% in the third quarter, HoldingsChannel.com reports. The fund owned 7,585 shares of the business services provider’s stock after buying an additional 50 shares during the period. Mcrae Capital Management Inc.’s holdings in Waste Management were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. raised its stake in Waste Management by 8.8% in the first quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock valued at $161,000 after buying an additional 61 shares during the period. Vicus Capital acquired a new position in shares of Waste Management during the 1st quarter worth approximately $295,000. CRA Financial Services LLC bought a new stake in Waste Management in the 1st quarter valued at $227,000. Founders Financial Securities LLC boosted its position in Waste Management by 5.1% during the first quarter. Founders Financial Securities LLC now owns 6,026 shares of the business services provider’s stock worth $1,284,000 after purchasing an additional 292 shares during the period. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Waste Management by 16.1% in the first quarter. New Mexico Educational Retirement Board now owns 22,366 shares of the business services provider’s stock valued at $4,767,000 after purchasing an additional 3,100 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of Waste Management stock opened at $206.80 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company has a market cap of $82.94 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. The company has a 50 day moving average of $208.77 and a 200-day moving average of $208.56. Waste Management, Inc. has a 1-year low of $160.90 and a 1-year high of $225.00.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $1.51 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WM shares. Royal Bank of Canada cut their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Robert W. Baird reduced their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Scotiabank assumed coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Truist Financial dropped their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, BMO Capital Markets lowered their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $218.89.

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.