Mitchell & Pahl Private Wealth LLC Grows Stake in Waste Management, Inc. (NYSE:WM)

Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,740 shares of the business services provider’s stock after purchasing an additional 107 shares during the quarter. Waste Management makes up approximately 1.4% of Mitchell & Pahl Private Wealth LLC’s portfolio, making the stock its 13th biggest position. Mitchell & Pahl Private Wealth LLC’s holdings in Waste Management were worth $3,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Waste Management by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock valued at $55,990,000 after purchasing an additional 48,549 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Waste Management in the fourth quarter valued at approximately $50,000. First Hawaiian Bank boosted its holdings in shares of Waste Management by 96.6% in the first quarter. First Hawaiian Bank now owns 6,541 shares of the business services provider’s stock valued at $1,394,000 after acquiring an additional 3,214 shares during the period. Mather Group LLC. acquired a new position in shares of Waste Management in the 1st quarter valued at $202,000. Finally, Alaska Permanent Fund Corp raised its position in Waste Management by 240.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 24,383 shares of the business services provider’s stock valued at $5,197,000 after purchasing an additional 17,225 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WM shares. BMO Capital Markets lowered their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Oppenheimer decreased their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. CIBC dropped their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Price Performance

WM traded down $0.79 during trading on Thursday, reaching $212.35. 191,257 shares of the stock were exchanged, compared to its average volume of 1,625,326. Waste Management, Inc. has a 1 year low of $153.95 and a 1 year high of $225.00. The company has a market capitalization of $85.22 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 2.39 and a beta of 0.74. The business’s 50 day moving average price is $207.98 and its two-hundred day moving average price is $208.45. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last posted 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 net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the firm posted $1.51 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 47.69%.

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.