Waters Parkerson & CO. LLC Increases Stake in Waste Management, Inc. $WM

Waters Parkerson & CO. LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 16.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,936 shares of the business services provider’s stock after buying an additional 16,100 shares during the period. Waters Parkerson & CO. LLC’s holdings in Waste Management were worth $24,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. bought a new position in shares of Waste Management during the first quarter valued at $325,000. Pallas Capital Advisors LLC purchased a new stake in shares of Waste Management during the second quarter valued at $217,000. Baader Bank Aktiengesellschaft increased its holdings in Waste Management by 44.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 1,797 shares of the business services provider’s stock worth $392,000 after buying an additional 549 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in Waste Management by 1.3% during the 2nd quarter. Wedmont Private Capital now owns 6,295 shares of the business services provider’s stock valued at $1,421,000 after acquiring an additional 78 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. DZ Bank initiated coverage on shares of Waste Management in a research report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 target price for the company. UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and increased their price target for the company from $225.00 to $260.00 in a report on Friday, January 9th. Sanford C. Bernstein upped their price objective on Waste Management from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Finally, Truist Financial set a $260.00 target price on Waste Management in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $250.45.

Waste Management Price Performance

Shares of Waste Management stock opened at $221.21 on Friday. The stock’s fifty day moving average is $215.74 and its 200 day moving average is $219.25. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The stock has a market cap of $89.12 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.46 and a beta of 0.59.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the previous year, the company earned $1.96 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.825 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s dividend payout ratio is 51.97%.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.