Waste Management, Inc. $WM Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its position in Waste Management, Inc. (NYSE:WM) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,001 shares of the business services provider’s stock after acquiring an additional 2,330 shares during the quarter. Benjamin Edwards Inc.’s holdings in Waste Management were worth $7,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Waste Management in the second quarter worth $1,064,206,000. Vontobel Holding Ltd. lifted its holdings in Waste Management by 444.3% in the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after purchasing an additional 1,800,728 shares during the period. Valeo Financial Advisors LLC increased its stake in Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock valued at $395,512,000 after buying an additional 1,717,603 shares during the period. Sustainable Growth Advisers LP raised its position in shares of Waste Management by 55.5% during the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after buying an additional 1,034,258 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Waste Management by 982.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock worth $195,692,000 after acquiring an additional 804,285 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Truist Financial set a $260.00 price objective on shares of Waste Management in a research report on Wednesday, October 29th. Royal Bank Of Canada dropped their target price on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 29th. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and raised their target price for the stock from $225.00 to $260.00 in a report on Friday. Finally, Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $238.00 to $242.00 in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.77.

Insider Buying and Selling at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the sale, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $220.96 on Friday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The stock’s 50-day moving average is $213.84 and its two-hundred day moving average is $219.62. The firm has a market cap of $89.02 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.44 and a beta of 0.59. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80.

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

Waste Management Announces Dividend

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

Waste Management 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.