Gryphon Financial Partners LLC Grows Holdings in Waste Management, Inc. (NYSE:WM)

Gryphon Financial Partners LLC raised its position in Waste Management, Inc. (NYSE:WM) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,609 shares of the business services provider’s stock after buying an additional 612 shares during the period. Gryphon Financial Partners LLC’s holdings in Waste Management were worth $1,410,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC raised its stake in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Sachetta LLC bought a new stake in shares of Waste Management during the 4th quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management during the 1st quarter worth $35,000. Finally, DSM Capital Partners LLC bought a new stake in shares of Waste Management during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.2 %

NYSE WM opened at $208.95 on Tuesday. The stock’s 50-day simple moving average is $209.41 and its two-hundred day simple moving average is $208.77. 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 company has a market capitalization of $83.86 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 2.29 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s dividend payout ratio is currently 49.10%.

Analyst Upgrades and Downgrades

WM has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer lowered their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets lowered their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Finally, Royal Bank of Canada lowered their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.83.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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.