Waste Management, Inc. (NYSE:WM) Shares Acquired by Fairway Wealth LLC

Fairway Wealth LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 62.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171 shares of the business services provider’s stock after purchasing an additional 66 shares during the period. Fairway Wealth LLC’s holdings in Waste Management were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WM. Gryphon Financial Partners LLC increased its position in Waste Management by 83.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,770 shares of the business services provider’s stock worth $838,000 after purchasing an additional 2,176 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Waste Management by 5.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 16,963 shares of the business services provider’s stock valued at $3,038,000 after purchasing an additional 828 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Waste Management by 21.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 10,873 shares of the business services provider’s stock valued at $1,947,000 after purchasing an additional 1,904 shares during the period. Balentine LLC boosted its position in shares of Waste Management by 23.7% in the fourth quarter. Balentine LLC now owns 8,233 shares of the business services provider’s stock worth $1,474,000 after buying an additional 1,580 shares during the period. Finally, Sachetta LLC acquired a new position in Waste Management during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Up 0.1 %

Waste Management stock opened at $208.36 on Tuesday. The company’s 50-day moving average price is $209.19 and its two-hundred day moving average price is $208.80. 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 stock has a market cap of $83.57 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share 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 business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the business posted $1.51 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.75 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management’s payout ratio is currently 49.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. 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. Truist Financial lowered their target price 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. Oppenheimer lowered their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. Finally, Robert W. Baird dropped their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.83.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.