Greenleaf Trust Purchases 1,057 Shares of Waste Management, Inc. (NYSE:WM)

Greenleaf Trust grew its position in Waste Management, Inc. (NYSE:WM) by 8.5% in the third quarter, HoldingsChannel.com reports. The fund owned 13,436 shares of the business services provider’s stock after buying an additional 1,057 shares during the period. Greenleaf Trust’s holdings in Waste Management were worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of WM. Hexagon Capital Partners LLC increased its holdings in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the 2nd quarter worth about $31,000. Fairway Wealth LLC grew its stake in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the second quarter worth approximately $36,000. Finally, Fairscale Capital LLC bought a new stake in shares of Waste Management during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WM shares. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Robert W. Baird dropped their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Oppenheimer decreased their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Truist Financial decreased their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, CIBC dropped their price target on shares of Waste Management from $223.00 to $213.00 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, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Performance

Waste Management stock opened at $211.80 on Thursday. The stock has a market cap of $84.95 billion, a PE ratio of 34.66, a P/E/G ratio of 2.38 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12-month low of $153.95 and a 12-month high of $225.00. The business’s 50-day moving average price is $208.70 and its two-hundred day moving average price is $208.54.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the company earned $1.51 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is 49.10%.

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.