Waste Management, Inc. (NYSE:WM) Stock Position Increased by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its position in Waste Management, Inc. (NYSE:WM) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,174 shares of the business services provider’s stock after purchasing an additional 628 shares during the period. Wealthspire Advisors LLC’s holdings in Waste Management were worth $1,317,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its position in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC bought a new stake in Waste Management in the fourth quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management in the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management in the 1st quarter worth approximately $35,000. Finally, DSM Capital Partners LLC acquired a new stake in Waste Management during the fourth quarter valued at approximately $38,000. Institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

WM has been the topic of several recent research reports. Truist Financial decreased their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. CIBC cut their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Price Performance

NYSE WM opened at $208.05 on Monday. The company has a 50 day moving average price of $209.24 and a two-hundred day moving average price of $208.78. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The stock has a market capitalization of $83.45 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. As a group, equities analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s payout ratio is currently 49.10%.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

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.