Waste Management, Inc. (NYSE:WM) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 18.1% in the 3rd quarter, Holdings Channel reports. The fund owned 5,957 shares of the business services provider’s stock after acquiring an additional 913 shares during the period. Zions Bancorporation N.A.’s holdings in Waste Management were worth $1,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WM. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the 2nd quarter worth approximately $31,000. Fairway Wealth LLC grew its stake 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 worth $36,000 after purchasing an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management during the second quarter valued at $36,000. Fairscale Capital LLC acquired a new stake in Waste Management in the second quarter worth about $39,000. Finally, Hexagon Capital Partners LLC grew its position in Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after buying an additional 80 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Trading Down 1.8 %

NYSE WM opened at $221.72 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 capitalization of $88.99 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. The company’s 50-day simple moving average is $211.08 and its two-hundred day simple moving average is $209.55. Waste Management, Inc. has a one year low of $168.73 and a one year high of $226.84.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. Equities analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.35%. Waste Management’s payout ratio is 45.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Truist Financial raised their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird cut their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada raised their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $226.11.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction 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 $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

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.