Benjamin Edwards Inc. Acquires 26,863 Shares of Waste Management, Inc. (NYSE:WM)

Benjamin Edwards Inc. raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 486.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 32,380 shares of the business services provider’s stock after acquiring an additional 26,863 shares during the period. Benjamin Edwards Inc.’s holdings in Waste Management were worth $6,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Activest Wealth Management increased its position in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter valued at $31,000. Fairway Wealth LLC increased its position in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Waste Management in the 2nd quarter valued at $39,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management in the 2nd quarter valued at $36,000. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WM shares. Royal Bank of Canada upped their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley upped their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $228.94.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 1.4 %

NYSE WM opened at $225.13 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1-year low of $171.15 and a 1-year high of $230.39. The company has a 50 day moving average of $215.17 and a 200-day moving average of $210.71. The company has a market cap of $90.36 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 2.40 and a beta of 0.75.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.33%. Waste Management’s dividend payout ratio is currently 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.