Private Advisor Group LLC Grows Holdings in Waste Management, Inc. (NYSE:WM)

Private Advisor Group LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,982 shares of the business services provider’s stock after acquiring an additional 2,180 shares during the period. Private Advisor Group LLC’s holdings in Waste Management were worth $15,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tempus Wealth Planning LLC increased its stake in shares of Waste Management by 19.0% in the third quarter. Tempus Wealth Planning LLC now owns 5,908 shares of the business services provider’s stock worth $1,227,000 after buying an additional 944 shares during the last quarter. RBA Wealth Management LLC increased its position in shares of Waste Management by 0.7% in the 3rd quarter. RBA Wealth Management LLC now owns 31,847 shares of the business services provider’s stock worth $6,611,000 after purchasing an additional 209 shares during the last quarter. WT Wealth Management raised its stake in shares of Waste Management by 4.8% in the 3rd quarter. WT Wealth Management now owns 10,835 shares of the business services provider’s stock valued at $2,305,000 after purchasing an additional 495 shares in the last quarter. Eastern Bank acquired a new position in Waste Management in the third quarter worth about $33,754,000. Finally, Signaturefd LLC increased its holdings in Waste Management by 1.6% in the third quarter. Signaturefd LLC now owns 8,462 shares of the business services provider’s stock valued at $1,757,000 after buying an additional 134 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE WM opened at $211.80 on Thursday. The stock has a market cap of $84.95 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.38 and a beta of 0.74. The firm’s 50-day simple moving average is $208.70 and its 200 day simple moving average is $208.54. Waste Management, Inc. has a fifty-two week low of $153.95 and a fifty-two week high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last issued its quarterly 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 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 analyst estimates of $5.43 billion. During the same period in the prior year, the business posted $1.51 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial decreased their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. William Blair started coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. BMO Capital Markets decreased their price target 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. Finally, CIBC dropped their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Eleven investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management 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.