PFG Investments LLC Decreases Stock Holdings in Waste Management, Inc. (NYSE:WM)

PFG Investments LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,522 shares of the business services provider’s stock after selling 586 shares during the period. PFG Investments LLC’s holdings in Waste Management were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Public Sector Pension Investment Board increased its stake in shares of Waste Management by 167.1% during the second quarter. Public Sector Pension Investment Board now owns 9,235 shares of the business services provider’s stock worth $1,970,000 after purchasing an additional 5,777 shares in the last quarter. Magnolia Capital Advisors LLC increased its stake in Waste Management by 145.7% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 3,283 shares of the business services provider’s stock worth $700,000 after buying an additional 1,947 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Waste Management by 11.4% during the second quarter. NewEdge Advisors LLC now owns 43,413 shares of the business services provider’s stock valued at $9,262,000 after acquiring an additional 4,435 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Waste Management by 106.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 118,794 shares of the business services provider’s stock worth $25,344,000 after acquiring an additional 61,142 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Waste Management by 9.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 826 shares of the business services provider’s stock worth $176,000 after purchasing an additional 72 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. CIBC boosted their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada increased 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 increased their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 4th. Finally, UBS Group raised their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.39.

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 dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $213.46 on Tuesday. The company has a 50-day moving average of $212.64 and a 200-day moving average of $211.28. The firm has a market cap of $85.67 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. Waste Management, Inc. has a twelve month low of $184.72 and a twelve month high of $230.39. 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 (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 EPS. Analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) 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.