SevenBridge Financial Group LLC Makes New $215,000 Investment in Waste Management, Inc. (NYSE:WM)

SevenBridge Financial Group LLC bought a new position in Waste Management, Inc. (NYSE:WM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 962 shares of the business services provider’s stock, valued at approximately $215,000.

Other large investors also recently modified their holdings of the company. Aberdeen Wealth Management LLC raised its holdings in Waste Management by 1.1% during the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its stake in shares of Waste Management by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after buying an additional 46 shares during the last quarter. ARS Wealth Advisors Group LLC lifted its holdings in Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after buying an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its stake in Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after acquiring an additional 49 shares during the last quarter. Finally, Balboa Wealth Partners grew its holdings in Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after acquiring an additional 49 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. William Blair initiated coverage on Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Truist Financial boosted their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday. CIBC lifted their price objective on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Trading Up 1.3 %

NYSE WM opened at $224.41 on Monday. The stock has a market capitalization of $90.07 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.36 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $226.84. The stock’s 50 day moving average price is $212.84 and its two-hundred day moving average price is $210.10. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 earnings per share. As a group, analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Waste Management Profile

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.