Archer Investment Corp Increases Stock Position in Waste Management, Inc. (NYSE:WM)

Archer Investment Corp grew its stake in Waste Management, Inc. (NYSE:WM) by 1,204.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,083 shares of the business services provider’s stock after buying an additional 1,000 shares during the period. Archer Investment Corp’s holdings in Waste Management were worth $231,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 75 shares during the last quarter. Sachetta LLC bought a new position in shares of Waste Management during the 4th quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the 2nd quarter worth approximately $31,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management in the first quarter worth approximately $35,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Waste Management during the fourth quarter valued at approximately $36,000. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WM shares. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Truist Financial decreased their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. BMO Capital Markets dropped their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. CIBC decreased their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective for the company. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Performance

WM stock opened at $209.40 on Wednesday. The firm has a market cap of $84.04 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.37 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The business’s fifty day simple moving average is $209.75 and its two-hundred day simple moving average is $208.66.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.51 EPS. Analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Waste Management 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.