San Luis Wealth Advisors LLC Takes $340,000 Position in Waste Management, Inc. (NYSE:WM)

San Luis Wealth Advisors LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,636 shares of the business services provider’s stock, valued at approximately $340,000.

Several other hedge funds have also modified their holdings of WM. Hexagon Capital Partners LLC lifted its stake in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new position in Waste Management in the 1st quarter worth approximately $35,000. Fairway Wealth LLC grew its position in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the 2nd quarter valued at $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management Stock Down 0.5 %

Shares of Waste Management stock opened at $211.25 on Friday. Waste Management, Inc. has a 12-month low of $153.95 and a 12-month high of $225.00. The stock has a market capitalization of $84.78 billion, a P/E ratio of 33.59, a PEG ratio of 2.37 and a beta of 0.74. 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 stock has a 50 day moving average price of $207.28 and a two-hundred day moving average price of $208.48.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. Waste Management’s dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

WM has been the topic of a number of research analyst reports. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Truist Financial dropped their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Royal Bank of Canada cut their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Finally, William Blair started coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $218.89.

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.