Waste Management, Inc. (NYSE:WM) Position Increased by 1ST Source Bank

1ST Source Bank boosted its stake in Waste Management, Inc. (NYSE:WM) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,578 shares of the business services provider’s stock after buying an additional 530 shares during the quarter. 1ST Source Bank’s holdings in Waste Management were worth $3,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WM. Activest Wealth Management raised its stake in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Fairway Wealth LLC raised its position in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the second quarter worth about $36,000. Fairscale Capital LLC bought a new position in shares of Waste Management in the second quarter worth about $39,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in Waste Management by 51.8% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider’s stock valued at $44,000 after buying an additional 72 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Argus increased 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. Finally, Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Stock Performance

Shares of Waste Management stock traded down $0.73 during trading hours on Friday, reaching $213.72. 255,091 shares of the stock traded hands, compared to its average volume of 1,608,876. The company has a 50 day moving average price of $217.55 and a 200 day moving average price of $211.37. The firm has a market capitalization of $85.78 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 2.26 and a beta of 0.75. Waste Management, Inc. has a one year low of $173.01 and a one year high of $230.39. 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 (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating 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 firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm earned $1.63 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. Waste Management’s dividend payout ratio is presently 45.87%.

Insider Buying and Selling

In other 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 transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by 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.