OLD National Bancorp IN Boosts Holdings in Waste Management, Inc. (NYSE:WM)

OLD National Bancorp IN grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,071 shares of the business services provider’s stock after buying an additional 868 shares during the period. OLD National Bancorp IN’s holdings in Waste Management were worth $1,468,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Trium Capital LLP boosted its holdings in Waste Management by 33.6% in the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after purchasing an additional 3,029 shares during the last quarter. Pinkerton Retirement Specialists LLC increased its position in Waste Management by 18.6% in the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after buying an additional 3,145 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Waste Management by 8.8% during the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock worth $161,000 after acquiring an additional 61 shares during the period. Norden Group LLC bought a new stake in shares of Waste Management during the 1st quarter valued at $7,146,000. Finally, Aspiriant LLC lifted its position in shares of Waste Management by 4.5% in the first quarter. Aspiriant LLC now owns 2,226 shares of the business services provider’s stock valued at $474,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.4 %

WM stock opened at $211.82 on Tuesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company has a market cap of $85.01 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00. The company has a fifty day moving average price of $208.45 and a 200 day moving average price of $208.49.

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 the consensus estimate 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 analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

WM has been the subject of several research reports. BMO Capital Markets dropped their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. William Blair initiated coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Truist Financial decreased their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

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.