Red Wave Investments LLC Has $335,000 Stake in Waste Management, Inc. (NYSE:WM)

Red Wave Investments LLC increased its position in Waste Management, Inc. (NYSE:WM) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,871 shares of the business services provider’s stock after buying an additional 73 shares during the period. Red Wave Investments LLC’s holdings in Waste Management were worth $335,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of Waste Management by 0.7% in the 3rd quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock valued at $1,061,521,000 after buying an additional 46,084 shares in the last quarter. Nordea Investment Management AB raised its position in Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after purchasing an additional 776,491 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Waste Management by 1.3% during the third quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock valued at $794,174,000 after purchasing an additional 66,816 shares in the last quarter. Northern Trust Corp grew its stake in shares of Waste Management by 2.3% in the 3rd quarter. Northern Trust Corp now owns 4,065,843 shares of the business services provider’s stock valued at $619,797,000 after purchasing an additional 90,129 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Waste Management by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 2,446,103 shares of the business services provider’s stock worth $372,886,000 after buying an additional 9,001 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In related news, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the completion of the transaction, the chief financial officer now owns 75,204 shares in the company, valued at $14,934,010.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Waste Management news, CFO Devina A. Rankin sold 775 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total transaction of $153,899.50. Following the sale, the chief financial officer now owns 75,204 shares of the company’s stock, valued at $14,934,010.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WM shares. Truist Financial lifted their price objective on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley boosted their price target on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday. Jefferies Financial Group lifted their target price on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada increased their price target on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $214.21.

Waste Management Stock Up 0.7 %

Shares of NYSE:WM opened at $211.67 on Monday. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a market cap of $84.90 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 2.81 and a beta of 0.72. The company has a 50 day moving average of $208.54 and a 200-day moving average of $187.29. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the business posted $1.31 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.09 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.75 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

About Waste Management

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.