Exchange Traded Concepts LLC Purchases 9,122 Shares of Waste Management, Inc. $WM

Exchange Traded Concepts LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 507.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,919 shares of the business services provider’s stock after buying an additional 9,122 shares during the period. Exchange Traded Concepts LLC’s holdings in Waste Management were worth $2,411,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Waste Management by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock valued at $8,617,866,000 after purchasing an additional 292,868 shares during the last quarter. Geode Capital Management LLC increased its position in Waste Management by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after buying an additional 126,329 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Waste Management by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock valued at $1,232,131,000 after buying an additional 74,528 shares during the last quarter. Norges Bank acquired a new stake in Waste Management in the second quarter worth about $1,064,206,000. Finally, Amundi grew its stake in shares of Waste Management by 8.6% during the second quarter. Amundi now owns 3,596,281 shares of the business services provider’s stock worth $804,809,000 after acquiring an additional 284,733 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WM has been the subject of a number of recent analyst reports. Wells Fargo & Company began coverage on shares of Waste Management in a research note on Friday, November 14th. They issued an “overweight” rating and a $238.00 target price for the company. Truist Financial set a $260.00 price objective on shares of Waste Management in a research note on Wednesday, October 29th. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Royal Bank Of Canada reduced their target price on Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. Finally, DZ Bank assumed coverage on Waste Management in a research note on Tuesday, November 25th. They set a “buy” rating and a $250.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $248.95.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

NYSE:WM opened at $221.39 on Friday. The firm’s fifty day moving average is $211.68 and its two-hundred day moving average is $220.73. The firm has a market cap of $89.19 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.73 and a beta of 0.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The company had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.