Assetmark Inc. Grows Stake in Waste Management, Inc. (NYSE:WM)

Assetmark Inc. lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 10.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,077 shares of the business services provider’s stock after buying an additional 191 shares during the quarter. Assetmark Inc.’s holdings in Waste Management were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. TIAA Trust National Association lifted its holdings in Waste Management by 5.2% during the first quarter. TIAA Trust National Association now owns 19,675 shares of the business services provider’s stock valued at $4,194,000 after purchasing an additional 966 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in Waste Management by 11.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,724 shares of the business services provider’s stock valued at $2,286,000 after buying an additional 1,094 shares in the last quarter. Patten & Patten Inc. TN bought a new stake in Waste Management during the 1st quarter valued at $211,000. Edgestream Partners L.P. lifted its position in shares of Waste Management by 202.7% during the first quarter. Edgestream Partners L.P. now owns 16,655 shares of the business services provider’s stock worth $3,550,000 after acquiring an additional 11,152 shares in the last quarter. Finally, Catalytic Wealth RIA LLC boosted its holdings in shares of Waste Management by 19.3% in the first quarter. Catalytic Wealth RIA LLC now owns 2,375 shares of the business services provider’s stock worth $506,000 after acquiring an additional 384 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WM has been the topic of a number of recent research reports. William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Scotiabank started coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. 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 research note on Wednesday, October 30th. Truist Financial upped their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Down 1.7 %

NYSE WM opened at $217.90 on Friday. The business’s 50-day moving average is $211.61 and its 200 day moving average is $209.67. The stock has a market capitalization of $87.46 billion, a PE ratio of 33.32, a PEG ratio of 2.34 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $226.84.

Waste Management (NYSE:WM) last posted 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. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

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.