Grimes & Company Inc. Makes New Investment in Waste Management, Inc. (NYSE:WM)

Grimes & Company Inc. bought a new stake in Waste Management, Inc. (NYSE:WM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,029 shares of the business services provider’s stock, valued at approximately $214,000.

Other large investors have also recently added to or reduced their stakes in the company. Trium Capital LLP grew its stake in shares of Waste Management by 33.6% during the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after buying an additional 3,029 shares during the period. Pinkerton Retirement Specialists LLC increased its stake in Waste Management by 18.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after acquiring an additional 3,145 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Waste Management by 8.8% in the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock worth $161,000 after purchasing an additional 61 shares during the period. Norden Group LLC purchased a new stake in shares of Waste Management during the 1st quarter worth about $7,146,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Waste Management by 417.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after purchasing an additional 2,800 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE WM opened at $206.80 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $82.99 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $160.90 and a twelve month high of $225.00. The business has a 50 day simple moving average of $208.74 and a 200-day simple moving average of $208.54.

Waste Management (NYSE:WM) last posted its quarterly earnings results 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 analyst estimates of $5.43 billion. During the same period in the previous year, the business posted $1.51 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research 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 disclosed 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 of this dividend 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 is currently 47.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets decreased 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 research note on Friday, July 26th. Scotiabank initiated coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. Truist Financial cut their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. William Blair started coverage on Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, Oppenheimer reduced their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price 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.