Brookstone Capital Management Acquires 204 Shares of Waste Management, Inc. (NYSE:WM)

Brookstone Capital Management grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,456 shares of the business services provider’s stock after purchasing an additional 204 shares during the period. Brookstone Capital Management’s holdings in Waste Management were worth $5,540,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Waste Management by 2.1% in the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after buying an additional 168,818 shares in the last quarter. Parnassus Investments LLC lifted its position in Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after acquiring an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Waste Management by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock worth $854,446,000 after purchasing an additional 280,455 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WM shares. BMO Capital Markets boosted their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. William Blair initiated coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, Morgan Stanley lifted their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Stock Performance

Shares of NYSE WM opened at $206.98 on Wednesday. The stock has a market cap of $83.07 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. Waste Management, Inc. has a 1 year low of $180.17 and a 1 year high of $230.39. The firm has a fifty day moving average price of $214.44 and a 200-day moving average price of $211.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $1.63 EPS. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

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.