3Chopt Investment Partners LLC Buys Shares of 1,558 Waste Management, Inc. (NYSE:WM)

3Chopt Investment Partners LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,558 shares of the business services provider’s stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Granite Bay Wealth Management LLC bought a new stake in shares of Waste Management during the 2nd quarter valued at $853,000. Advisory Alpha LLC increased its holdings in Waste Management by 7.6% in the second quarter. Advisory Alpha LLC now owns 5,065 shares of the business services provider’s stock valued at $1,081,000 after purchasing an additional 358 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Waste Management by 50.6% in the second quarter. EP Wealth Advisors LLC now owns 13,766 shares of the business services provider’s stock valued at $2,937,000 after buying an additional 4,628 shares during the period. Kimelman & Baird LLC bought a new position in Waste Management during the second quarter worth about $46,377,000. Finally, Ecofi Investissements SA acquired a new position in shares of Waste Management during the 2nd quarter worth about $11,208,000. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WM. BMO Capital Markets reduced their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Truist Financial reduced their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Stock Up 0.2 %

WM stock opened at $207.92 on Wednesday. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The company has a market cap of $83.44 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.30 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. The business has a 50 day moving average price of $206.54 and a two-hundred day moving average price of $208.58.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (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 firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is currently 49.10%.

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.