DGS Capital Management LLC Acquires Shares of 969 Waste Management, Inc. (NYSE:WM)

DGS Capital Management LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 969 shares of the business services provider’s stock, valued at approximately $207,000.

Several other institutional investors have also modified their holdings of WM. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Waste Management by 301.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,929 shares of the business services provider’s stock worth $1,971,000 after purchasing an additional 9,709 shares during the last quarter. Mutual Advisors LLC increased its position in shares of Waste Management by 1.0% during the 3rd quarter. Mutual Advisors LLC now owns 9,418 shares of the business services provider’s stock worth $1,436,000 after purchasing an additional 93 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Waste Management by 466.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 23,241 shares of the business services provider’s stock worth $3,543,000 after purchasing an additional 19,136 shares during the last quarter. Bank of Nova Scotia grew its position in Waste Management by 46.1% in the 3rd quarter. Bank of Nova Scotia now owns 146,476 shares of the business services provider’s stock valued at $22,327,000 after acquiring an additional 46,218 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its position in Waste Management by 15.7% in the 3rd quarter. CWA Asset Management Group LLC now owns 5,410 shares of the business services provider’s stock valued at $825,000 after acquiring an additional 733 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.2 %

Shares of WM stock opened at $213.00 on Thursday. The business’s fifty day moving average price is $207.65 and its 200 day moving average price is $199.23. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54. The firm has a market capitalization of $85.43 billion, a PE ratio of 34.81, a P/E/G ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. Waste Management’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 earnings per share. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Activity

In other news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the sale, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on WM shares. Truist Financial lifted their target price on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, April 26th. BMO Capital Markets boosted their price objective on Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Robert W. Baird boosted their price objective on Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. TD Cowen boosted their price objective on Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Morgan Stanley boosted their price objective on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $217.61.

About Waste Management

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.