Waste Management, Inc. $WM Stock: Asset One Wealth Management LLC Raises Position

Asset One Wealth Management LLC grew its stake in Waste Management, Inc. (NYSE:WM) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,857 shares of the business services provider’s stock after purchasing an additional 2,176 shares during the period. Asset One Wealth Management LLC’s holdings in Waste Management were worth $5,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WM. Heritage Family Offices LLP acquired a new position in shares of Waste Management during the 3rd quarter worth approximately $134,000. Calamos Advisors LLC increased its stake in shares of Waste Management by 1.3% during the 3rd quarter. Calamos Advisors LLC now owns 163,040 shares of the business services provider’s stock worth $33,247,000 after purchasing an additional 2,088 shares during the last quarter. Alta Advisers Ltd grew its stake in Waste Management by 76.3% during the third quarter. Alta Advisers Ltd now owns 2,605 shares of the business services provider’s stock valued at $531,000 after acquiring an additional 1,127 shares in the last quarter. Principle Wealth Partners LLC raised its position in Waste Management by 0.4% during the third quarter. Principle Wealth Partners LLC now owns 24,339 shares of the business services provider’s stock valued at $4,963,000 after purchasing an additional 108 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its stake in shares of Waste Management by 8.9% in the third quarter. Kestra Advisory Services LLC now owns 130,763 shares of the business services provider’s stock worth $26,665,000 after buying an additional 10,648 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Waste Management

In other Waste Management news, CAO John Carroll sold 1,365 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the sale, the chief accounting officer directly owned 3,509 shares in the company, valued at approximately $771,629.10. This represents a 28.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

WM has been the topic of a number of research reports. BMO Capital Markets dropped their price target on Waste Management from $240.00 to $232.00 and set a “market perform” rating on the stock in a research note on Thursday, October 15th. Morgan Stanley reduced their target price on Waste Management from $230.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. UBS Group boosted their target price on Waste Management from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Royal Bank Of Canada lifted their price objective on Waste Management from $244.00 to $247.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Waste Management in a research note on Thursday, October 29th. Eighteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.04.

Waste Management Stock Performance

Shares of WM opened at $236.50 on Friday. The firm has a fifty day simple moving average of $219.40 and a 200 day simple moving average of $225.59. Waste Management, Inc. has a 12 month low of $197.47 and a 12 month high of $248.13. The stock has a market capitalization of $94.04 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 3.09 and a beta of 0.38. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.03). The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.81 billion. Waste Management had a net margin of 11.78% and a return on equity of 31.97%. Waste Management’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. Research analysts forecast that Waste Management, Inc. will post 8.05 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a dividend of $0.9450 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 11th. Waste Management’s dividend payout ratio is 49.61%.

About Waste Management

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.