Waste Management, Inc. (NYSE:WM) Shares Acquired by RBA Wealth Management LLC

RBA Wealth Management LLC raised its holdings in Waste Management, Inc. (NYSE:WM) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,847 shares of the business services provider’s stock after buying an additional 209 shares during the period. Waste Management makes up approximately 2.5% of RBA Wealth Management LLC’s portfolio, making the stock its 8th largest position. RBA Wealth Management LLC’s holdings in Waste Management were worth $6,611,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WM. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management in the first quarter valued at about $300,594,000. Capital World Investors increased its position in Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Swedbank AB acquired a new position in Waste Management during the first quarter worth approximately $193,955,000. Wulff Hansen & CO. raised its stake in shares of Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after acquiring an additional 863,846 shares during the period. Finally, AMF Tjanstepension AB raised its stake in shares of Waste Management by 85.6% in the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after acquiring an additional 720,358 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.3 %

Waste Management stock traded down $0.63 during trading on Tuesday, hitting $211.19. 447,861 shares of the company were exchanged, compared to its average volume of 1,615,984. The company has a market capitalization of $84.75 billion, a P/E ratio of 33.68, a PEG ratio of 2.38 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The business’s 50 day moving average is $208.45 and its 200 day moving average is $208.49. Waste Management, Inc. has a 52 week low of $153.95 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. Waste Management’s payout ratio is 47.69%.

Analyst Ratings Changes

Several brokerages have weighed in on WM. CIBC decreased their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. William Blair started coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer reduced their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Truist Financial cut their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Royal Bank of Canada lowered their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

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.