Waste Management, Inc. (NYSE:WM) Shares Bought by Red Wave Investments LLC

Red Wave Investments LLC raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,871 shares of the business services provider’s stock after acquiring an additional 73 shares during the period. Red Wave Investments LLC’s holdings in Waste Management were worth $335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. abrdn plc raised its stake in Waste Management by 315.7% during the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after acquiring an additional 1,106,773 shares in the last quarter. Mirova US LLC grew its stake in Waste Management by 26,116.4% during the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after buying an additional 910,418 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after acquiring an additional 776,491 shares during the period. OMERS ADMINISTRATION Corp grew its position in shares of Waste Management by 128.2% during the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock worth $137,012,000 after acquiring an additional 504,924 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Waste Management by 13,927.7% in the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after acquiring an additional 500,701 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Waste Management news, VP Donald J. Smith sold 329 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total value of $65,326.24. Following the completion of the sale, the vice president now owns 5,522 shares in the company, valued at approximately $1,096,448.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Donald J. Smith sold 329 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the sale, the vice president now directly owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The disclosure for this sale can be found here. Insiders sold a total of 18,007 shares of company stock valued at $3,696,520 over the last quarter. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $211.67 on Monday. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54. The stock has a market cap of $84.90 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. The business’s fifty day moving average price is $208.54 and its two-hundred day moving average price is $187.29. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, analysts forecast that Waste Management, Inc. will post 7.09 EPS 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 issued a dividend of $0.75 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WM. Oppenheimer lifted their target price on Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $190.00 to $205.00 in a research report on Wednesday, February 14th. Morgan Stanley lifted their price target on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday. HSBC cut shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target on the stock. in a research note on Thursday, February 15th. Finally, Raymond James raised their price objective on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.21.

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.