Erste Asset Management GmbH Invests $16.25 Million in Waste Management, Inc. (NYSE:WM)

Erste Asset Management GmbH bought a new stake in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 79,047 shares of the business services provider’s stock, valued at approximately $16,245,000.

Several other hedge funds have also recently added to or reduced their stakes in WM. Activest Wealth Management increased its stake in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Waste Management during the 2nd quarter valued at $31,000. Fairway Wealth LLC raised its stake 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 worth $36,000 after buying an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management in the second quarter valued at $36,000. Finally, Fairscale Capital LLC bought a new position in Waste Management during the second quarter valued at about $39,000. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on WM. Scotiabank assumed coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Sunday. Oppenheimer increased their price objective on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. William Blair assumed coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $228.94.

Waste Management Price Performance

WM opened at $228.22 on Monday. The stock has a fifty day moving average price of $215.17 and a 200 day moving average price of $210.71. 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 $168.73 and a 1 year high of $230.39. The stock has a market cap of $91.60 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.40 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. Analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.31%. 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.