Red Door Wealth Management LLC Grows Stock Holdings in Waste Management, Inc. (NYSE:WM)

Red Door Wealth Management LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 11.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,617 shares of the business services provider’s stock after acquiring an additional 3,455 shares during the quarter. Red Door Wealth Management LLC’s holdings in Waste Management were worth $6,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Waste Management by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock valued at $1,686,203,000 after acquiring an additional 168,818 shares during the period. Parnassus Investments LLC boosted its holdings in shares of 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 valued at $1,063,072,000 after acquiring an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after buying an additional 12,664 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Waste Management by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after acquiring an additional 280,455 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after buying an additional 243,900 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 owns 3,875 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on WM. Argus lifted their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. BMO Capital Markets increased their price objective on shares of 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, 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. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $229.72.

Waste Management Price Performance

Waste Management stock opened at $209.96 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 company has a market cap of $84.27 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.17 and a beta of 0.77. Waste Management, Inc. has a 1 year low of $183.00 and a 1 year high of $230.39. The firm has a 50 day moving average price of $213.04 and a 200 day moving average price of $211.29.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $1.63 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Waste Management Company 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.