Geneos Wealth Management Inc. Boosts Stake in Waste Management, Inc. (NYSE:WM)

Geneos Wealth Management Inc. lifted its holdings in shares of Waste Management, Inc. (NYSE:WMFree Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,311 shares of the business services provider’s stock after buying an additional 56 shares during the period. Geneos Wealth Management Inc.’s holdings in Waste Management were worth $466,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Waste Management by 94,414.4% in the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Swedbank AB lifted its stake in shares of Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares during the period. Parnassus Investments LLC boosted its holdings in shares of Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Waste Management by 32.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock valued at $374,062,000 after buying an additional 437,613 shares during the period. Finally, National Bank of Canada FI raised its position in Waste Management by 138.0% in the third quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock worth $149,168,000 after acquiring an additional 416,579 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $213.62 on Wednesday. Waste Management, Inc. has a 52-week low of $184.72 and a 52-week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm’s fifty day moving average is $212.54 and its 200 day moving average is $211.30. The company has a market cap of $85.74 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 2.17 and a beta of 0.77.

Waste Management (NYSE:WMGet Free Report) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WM. Scotiabank upgraded Waste Management from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $225.00 to $250.00 in a research note on Monday. Royal Bank of Canada boosted their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer lifted their target price on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $231.39.

View Our Latest Stock Analysis on Waste Management

Waste Management Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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