NCP Inc. Boosts Position in Waste Management, Inc. (NYSE:WM)

NCP Inc. boosted its position in Waste Management, Inc. (NYSE:WM) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,571 shares of the business services provider’s stock after purchasing an additional 100 shares during the quarter. Waste Management comprises 0.6% of NCP Inc.’s investment portfolio, making the stock its 21st biggest position. NCP Inc.’s holdings in Waste Management were worth $975,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management in the second quarter worth approximately $36,000. New Century Financial Group LLC bought a new position in shares of Waste Management in the 2nd quarter worth $218,000. Aldebaran Financial Inc. raised its position in shares of Waste Management by 2.1% during the 2nd quarter. Aldebaran Financial Inc. now owns 10,721 shares of the business services provider’s stock valued at $2,287,000 after buying an additional 222 shares in the last quarter. 3Chopt Investment Partners LLC bought a new stake in shares of Waste Management during the 2nd quarter worth $332,000. Finally, Granite Bay Wealth Management LLC purchased a new position in Waste Management in the second quarter worth $853,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.2 %

NYSE WM opened at $207.92 on Wednesday. The stock’s 50 day moving average is $206.54 and its 200 day moving average is $208.58. 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 firm has a market capitalization of $83.44 billion, a PE ratio of 34.03, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the company posted $1.51 EPS. Waste Management’s revenue was up 5.5% on a year-over-year basis. Research analysts forecast 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 paid 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 was Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the business’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 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WM. BMO Capital Markets dropped their price target on 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. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. 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 note on Thursday, July 11th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Oppenheimer lowered their price target 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 investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.