Graypoint LLC Has $1.37 Million Stake in Waste Management, Inc. (NYSE:WM)

Graypoint LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,782 shares of the business services provider’s stock after purchasing an additional 83 shares during the quarter. Graypoint LLC’s holdings in Waste Management were worth $1,369,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of Waste Management by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares in the last quarter. Trium Capital LLP raised its stake in shares of Waste Management by 33.6% in the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after purchasing an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Waste Management by 77.4% in the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after purchasing an additional 5,367 shares in the last quarter. Principal Financial Group Inc. raised its stake in Waste Management by 6.2% during the third quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock worth $99,759,000 after acquiring an additional 28,266 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Waste Management by 417.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after acquiring an additional 2,800 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on WM. Morgan Stanley increased their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Argus increased their price objective on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Scotiabank started coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Finally, Truist Financial raised their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Price Performance

Shares of WM opened at $207.02 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1 year low of $177.83 and a 1 year high of $230.39. The stock has a market cap of $83.09 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The stock’s 50-day moving average price is $214.76 and its two-hundred day moving average price is $211.35.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $1.63 earnings per share. The company’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 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.