Telos Capital Management Inc. Raises Stock Holdings in Waste Management, Inc. (NYSE:WM)

Telos Capital Management Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 22,511 shares of the business services provider’s stock after buying an additional 154 shares during the period. Telos Capital Management Inc.’s holdings in Waste Management were worth $4,032,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its stake in Waste Management by 8.5% in the third quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock valued at $4,407,000 after buying an additional 2,272 shares during the last quarter. Birch Hill Investment Advisors LLC raised its stake in Waste Management by 5.5% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock valued at $1,132,000 after buying an additional 332 shares during the last quarter. Ingalls & Snyder LLC raised its stake in Waste Management by 1.0% in the third quarter. Ingalls & Snyder LLC now owns 22,662 shares of the business services provider’s stock valued at $3,455,000 after buying an additional 231 shares during the last quarter. Pacer Advisors Inc. raised its stake in Waste Management by 93.0% in the fourth quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock valued at $8,348,000 after buying an additional 22,455 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Waste Management by 13,927.7% in the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after buying an additional 500,701 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. HSBC cut Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target for the company. in a research note on Thursday, February 15th. JPMorgan Chase & Co. increased their price objective on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Truist Financial increased their price objective on Waste Management from $215.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and increased their price objective for the company from $190.00 to $205.00 in a report on Wednesday, February 14th. Finally, Erste Group Bank raised Waste Management from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $204.85.

Waste Management Stock Performance

WM stock traded up $0.65 during trading on Wednesday, hitting $205.63. 631,051 shares of the company traded hands, compared to its average volume of 1,673,058. The stock’s 50-day simple moving average is $206.30 and its 200 day simple moving average is $184.27. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.90 and a quick ratio of 0.86. The company has a market cap of $82.52 billion, a PE ratio of 36.22, a P/E/G ratio of 3.12 and a beta of 0.72. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, February 12th. The business services provider reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.21. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Waste Management had a return on equity of 36.51% and a net margin of 11.28%. During the same period in the previous year, the business earned $1.30 earnings per share. On average, equities analysts expect that Waste Management, Inc. will post 6.88 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. Waste Management’s payout ratio is 53.00%.

Insider Activity

In other news, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at $19,804,339.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at $19,804,339.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now directly owns 29,677 shares in the company, valued at $6,217,331.50. The disclosure for this sale can be found here. Insiders sold 20,507 shares of company stock worth $4,157,770 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

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.