Granite Bay Wealth Management LLC Invests $853,000 in Waste Management, Inc. (NYSE:WM)

Granite Bay Wealth Management LLC purchased a new position in Waste Management, Inc. (NYSE:WM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,107 shares of the business services provider’s stock, valued at approximately $853,000.

A number of other hedge funds have also recently made changes to their positions in WM. Sustainable Growth Advisers LP bought a new position in Waste Management in the 1st quarter valued at approximately $300,594,000. Capital World Investors lifted its position in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB bought a new position in Waste Management in the 1st quarter valued at approximately $193,955,000. Wulff Hansen & CO. lifted its position in Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after acquiring an additional 863,846 shares in the last quarter. Finally, AMF Tjanstepension AB raised its stake in Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after buying an additional 720,358 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Up 0.2 %

Shares of Waste Management stock opened at $207.92 on Wednesday. The company has a market capitalization of $83.44 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a fifty day moving average of $206.54 and a 200 day moving average of $208.58. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting 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 the consensus estimate of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were 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 owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research reports. Truist Financial decreased their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. CIBC decreased their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Finally, Oppenheimer decreased their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $215.83.

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.