968 Shares in Waste Management, Inc. (NYSE:WM) Purchased by Exchange Capital Management Inc.

Exchange Capital Management Inc. bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 968 shares of the business services provider’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WM. Logan Capital Management Inc. raised its stake in Waste Management by 23,461.5% in the third quarter. Logan Capital Management Inc. now owns 3,063 shares of the business services provider’s stock valued at $467,000 after buying an additional 3,050 shares during the period. Insigneo Advisory Services LLC increased its stake in shares of Waste Management by 9.0% during the third quarter. Insigneo Advisory Services LLC now owns 2,277 shares of the business services provider’s stock worth $347,000 after purchasing an additional 188 shares during the period. Truist Financial Corp increased its stake in shares of Waste Management by 17.2% during the third quarter. Truist Financial Corp now owns 236,977 shares of the business services provider’s stock worth $36,125,000 after purchasing an additional 34,835 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Waste Management by 5.1% during the third quarter. Glenmede Trust Co. NA now owns 31,716 shares of the business services provider’s stock worth $4,835,000 after purchasing an additional 1,549 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Waste Management by 9.6% during the third quarter. Advisors Asset Management Inc. now owns 20,198 shares of the business services provider’s stock worth $3,079,000 after purchasing an additional 1,772 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Waste Management Stock Up 0.0 %

Shares of NYSE:WM opened at $209.42 on Wednesday. The firm has a market cap of $83.99 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.48 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54. The business has a fifty day simple moving average of $208.09 and a 200 day simple moving average of $200.23.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. The business had revenue of $5.16 billion during 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 for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. Analysts predict that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio is currently 49.10%.

Wall Street Analyst Weigh In

WM has been the topic of a number of recent research reports. BMO Capital Markets increased their target price on Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Morgan Stanley raised their target price on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. TD Cowen raised their target price on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Truist Financial raised their target price on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, April 26th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.