HB Wealth Management LLC Raises Holdings in Waste Management, Inc. (NYSE:WM)

HB Wealth Management LLC increased its position in Waste Management, Inc. (NYSE:WM) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 45,668 shares of the business services provider’s stock after purchasing an additional 2,752 shares during the period. HB Wealth Management LLC’s holdings in Waste Management were worth $9,215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Waste Management by 24.2% in the second quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider’s stock valued at $14,427,000 after buying an additional 13,193 shares during the last quarter. Brighton Jones LLC lifted its position in Waste Management by 0.9% during the 2nd quarter. Brighton Jones LLC now owns 6,384 shares of the business services provider’s stock worth $1,362,000 after acquiring an additional 59 shares during the period. Ieq Capital LLC grew its stake in shares of Waste Management by 8.0% in the 2nd quarter. Ieq Capital LLC now owns 20,854 shares of the business services provider’s stock valued at $4,449,000 after purchasing an additional 1,540 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Waste Management by 1.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 24,208 shares of the business services provider’s stock valued at $5,165,000 after purchasing an additional 447 shares during the period. Finally, AE Wealth Management LLC increased its stake in Waste Management by 39.5% in the 2nd quarter. AE Wealth Management LLC now owns 37,151 shares of the business services provider’s stock valued at $7,926,000 after buying an additional 10,529 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.4 %

Shares of WM stock opened at $211.79 on Friday. Waste Management, Inc. has a 1-year low of $181.56 and a 1-year high of $230.39. The firm’s 50-day simple moving average is $213.80 and its 200-day simple moving average is $211.24. The firm has a market cap of $85.01 billion, a P/E ratio of 32.38, a PEG ratio of 2.10 and a beta of 0.77. 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 (NYSE:WM) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $1.63 EPS. As a group, equities analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’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 completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WM. BMO Capital Markets boosted their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group raised their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial increased their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, William Blair began coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

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.