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

by · The Markets Daily

Graypoint LLC increased its position in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,699 shares of the business services provider’s stock after acquiring an additional 196 shares during the quarter. Graypoint LLC’s holdings in Waste Management were worth $1,391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after buying an additional 12,664 shares during the last quarter. Capital World Investors lifted its holdings in shares of Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares during the period. International Assets Investment Management LLC raised 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 valued at $538,013,000 after purchasing an additional 2,588,842 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Waste Management by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management 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 sale, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 0.9 %

Waste Management stock opened at $220.44 on Friday. The company has a market capitalization of $88.48 billion, a P/E ratio of 33.71, a PEG ratio of 2.26 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $225.00. The stock has a 50-day simple moving average of $209.76 and a 200-day simple moving average of $209.06.

Waste Management (NYSE:WM – Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. Equities research analysts expect that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.36%. Waste Management’s payout ratio is 45.87%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Argus lifted their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Read Our Latest Report on WM

Waste Management Company 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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