Waste Management, Inc. (NYSE:WM) Stock Holdings Lifted by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,222 shares of the business services provider’s stock after acquiring an additional 100 shares during the quarter. Jennison Associates LLC’s holdings in Waste Management were worth $1,499,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WM. Aberdeen Wealth Management LLC lifted its holdings in shares of Waste Management by 1.1% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Waste Management by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 46 shares during the period. ARS Wealth Advisors Group LLC grew its position in shares of Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after acquiring an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its holdings in shares of Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after acquiring an additional 49 shares during the period. Finally, Balboa Wealth Partners lifted its position in Waste Management by 4.1% in the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the firm’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 transaction, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Stock Performance

WM stock opened at $224.41 on Friday. The stock has a market cap of $90.07 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.33 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. The firm has a 50 day simple moving average of $212.84 and a 200 day simple moving average of $210.10. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $226.84.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business 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 company posted $1.63 EPS. Waste Management’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared 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 1.34%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Analyst Ratings Changes

Several analysts recently commented on WM shares. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Morgan Stanley upped their price objective on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer lifted their target price on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Truist Financial raised their price objective on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

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.