Golden State Wealth Management LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Golden State Wealth Management LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 557 shares of the business services provider’s stock, valued at approximately $113,000.

Several other institutional investors also recently bought and sold shares of WM. Livforsakringsbolaget Skandia Omsesidigt raised its position in Waste Management by 417.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after acquiring an additional 2,800 shares in the last quarter. CRA Financial Services LLC increased its holdings in shares of Waste Management by 4.7% in the 3rd quarter. CRA Financial Services LLC now owns 1,116 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 50 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Waste Management by 10.9% in the third quarter. Inspire Investing LLC now owns 1,370 shares of the business services provider’s stock valued at $284,000 after purchasing an additional 135 shares during the period. Exchange Traded Concepts LLC grew its position in Waste Management by 14.1% during the third quarter. Exchange Traded Concepts LLC now owns 5,003 shares of the business services provider’s stock worth $1,039,000 after buying an additional 619 shares during the period. Finally, CHICAGO TRUST Co NA increased its holdings in Waste Management by 7.9% in the third quarter. CHICAGO TRUST Co NA now owns 3,874 shares of the business services provider’s stock valued at $804,000 after buying an additional 285 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WM shares. Stifel Nicolaus raised their price objective on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup raised their price target on Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Scotiabank increased their price objective on shares of Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Truist Financial upped their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” 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. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.50.

Waste Management Price Performance

WM opened at $224.94 on Monday. Waste Management, Inc. has a 1 year low of $187.48 and a 1 year high of $230.39. The company’s 50 day simple moving average is $211.84 and its 200 day simple moving average is $211.39. The stock has a market capitalization of $90.28 billion, a PE ratio of 33.08, a P/E/G ratio of 2.70 and a beta of 0.78. 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 Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio is currently 44.12%.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the transaction, the senior vice president now directly owns 18,531 shares of the company’s stock, valued at $4,185,967.59. This trade represents a 17.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tara J. Hemmer sold 4,576 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,016,421.12. Following the completion of the sale, the senior vice president now directly owns 58,765 shares of the company’s stock, valued at $13,052,881.80. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,055 shares of company stock valued at $3,578,340. 0.18% of the stock is currently owned by corporate insiders.

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.