Garner Asset Management Corp Has $2.09 Million Stake in Waste Management, Inc. (NYSE:WM)

Garner Asset Management Corp boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,771 shares of the business services provider’s stock after purchasing an additional 176 shares during the period. Waste Management comprises 1.0% of Garner Asset Management Corp’s holdings, making the stock its 28th largest position. Garner Asset Management Corp’s holdings in Waste Management were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ARS Wealth Advisors Group LLC increased its holdings in shares of Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after buying an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 49 shares in the last quarter. Mayflower Financial Advisors LLC grew its holdings in shares of Waste Management by 1.2% during the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after purchasing an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX increased its stake in shares of Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after buying an additional 50 shares during the period. Finally, GYL Financial Synergies LLC boosted its position in Waste Management by 3.8% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Truist Financial decreased their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Oppenheimer reduced their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Performance

Shares of WM opened at $201.85 on Thursday. The stock has a 50 day moving average of $208.87 and a 200 day moving average of $208.73. The company has a market capitalization of $81.01 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

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

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Waste Management’s payout ratio is currently 49.10%.

Waste Management Company Profile

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.