New Wave Wealth Advisors LLC Makes New $70,000 Investment in Waste Management, Inc. (NYSE:WM)

New Wave Wealth Advisors LLC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 348 shares of the business services provider’s stock, valued at approximately $70,000.

A number of other large investors have also recently modified their holdings of WM. International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares during the period. Swedbank AB raised its holdings in shares of Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Parnassus Investments LLC lifted its stake in Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after acquiring an additional 520,096 shares during the period. Diamond Hill Capital Management Inc. increased its position in Waste Management by 32.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock valued at $374,062,000 after purchasing an additional 437,613 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Waste Management by 138.0% in the 3rd quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock valued at $149,168,000 after purchasing an additional 416,579 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM opened at $220.10 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a 50-day moving average of $212.28 and a two-hundred day moving average of $211.36. The stock has a market cap of $88.34 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.20 and a beta of 0.77. Waste Management, Inc. has a one year low of $184.72 and a one year high of $230.39.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Waste Management, Inc. will post 7.99 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.36%. Waste Management’s dividend payout ratio (DPR) is presently 44.12%.

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 stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WM has been the topic of several research reports. Argus lifted their price objective on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer upped their price objective on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets lifted their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus increased their price target on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.61.

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.