Kimelman & Baird LLC Takes $46.38 Million Position in Waste Management, Inc. (NYSE:WM)

Kimelman & Baird LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 217,384 shares of the business services provider’s stock, valued at approximately $46,377,000. Waste Management makes up 3.8% of Kimelman & Baird LLC’s investment portfolio, making the stock its 8th biggest holding. Kimelman & Baird LLC owned approximately 0.05% of Waste Management as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in WM. HFR Wealth Management LLC grew its holdings in Waste Management by 1.1% in the 4th quarter. HFR Wealth Management LLC now owns 57,581 shares of the business services provider’s stock valued at $10,313,000 after buying an additional 624 shares during the period. NEOS Investment Management LLC increased its position in Waste Management by 38.9% during the fourth quarter. NEOS Investment Management LLC now owns 5,181 shares of the business services provider’s stock worth $928,000 after purchasing an additional 1,452 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Waste Management by 4.9% during the fourth quarter. Rafferty Asset Management LLC now owns 30,746 shares of the business services provider’s stock worth $5,507,000 after purchasing an additional 1,431 shares during the period. Cornerstone Advisory LLC boosted its holdings in shares of Waste Management by 5.8% in the 4th quarter. Cornerstone Advisory LLC now owns 2,336 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 128 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Waste Management by 3.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84,273 shares of the business services provider’s stock valued at $15,093,000 after buying an additional 2,505 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $205.51 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The business has a 50 day moving average of $207.07 and a two-hundred day moving average of $208.62. The company has a market cap of $82.43 billion, a P/E ratio of 33.64, a PEG ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00.

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

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Waste Management’s payout ratio is 49.10%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WM. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Royal Bank of Canada decreased 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. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, Truist Financial reduced their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 approximately $9,711,680. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.