MetLife Investment Management LLC Has $23.64 Million Stock Position in Waste Management, Inc. (NYSE:WM)

MetLife Investment Management LLC decreased its position in Waste Management, Inc. (NYSE:WM) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 113,849 shares of the business services provider’s stock after selling 2,748 shares during the quarter. MetLife Investment Management LLC’s holdings in Waste Management were worth $23,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake 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 acquiring an additional 120 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the 2nd quarter valued at approximately $31,000. Fairway Wealth LLC grew its holdings 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 acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the second quarter valued at approximately $36,000. Finally, Fairscale Capital LLC acquired a new position in shares of Waste Management in the second quarter valued at $39,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Up 0.5 %

WM opened at $228.50 on Thursday. The stock has a market cap of $91.71 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $230.39. The company has a fifty day moving average of $214.21 and a 200-day moving average of $210.45.

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

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Analysts Set New Price Targets

WM has been the topic of a number of research reports. Royal Bank of Canada upped their price target 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. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their price objective on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 23rd. Finally, Oppenheimer lifted their price objective on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.94.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

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.