Sunbelt Securities Inc. Raises Position in Waste Management, Inc. (NYSE:WM)

Sunbelt Securities Inc. raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 826 shares of the business services provider’s stock after buying an additional 72 shares during the quarter. Sunbelt Securities Inc.’s holdings in Waste Management were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Waste Management by 106.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 118,794 shares of the business services provider’s stock valued at $25,344,000 after buying an additional 61,142 shares in the last quarter. NewEdge Advisors LLC increased its stake in Waste Management by 11.4% in the second quarter. NewEdge Advisors LLC now owns 43,413 shares of the business services provider’s stock valued at $9,262,000 after acquiring an additional 4,435 shares during the last quarter. Magnolia Capital Advisors LLC raised its position in Waste Management by 145.7% during the second quarter. Magnolia Capital Advisors LLC now owns 3,283 shares of the business services provider’s stock valued at $700,000 after purchasing an additional 1,947 shares in the last quarter. Buck Wealth Strategies LLC boosted its holdings in shares of Waste Management by 7.8% in the 2nd quarter. Buck Wealth Strategies LLC now owns 46,890 shares of the business services provider’s stock worth $10,003,000 after purchasing an additional 3,382 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its position in shares of Waste Management by 23.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 7,083 shares of the business services provider’s stock valued at $1,511,000 after purchasing an additional 1,366 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Down 0.3 %

Shares of WM opened at $207.32 on Thursday. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The firm has a market capitalization of $83.20 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.30 and a beta of 0.74. The firm’s 50-day moving average price is $206.34 and its 200-day moving average price is $208.57. 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 posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the business earned $1.51 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Oppenheimer cut 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 report on Friday, July 26th. Truist Financial reduced their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Robert W. Baird reduced their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Eleven 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. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Insider Buying and Selling

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 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 directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.