GM Advisory Group LLC Increases Stake in Waste Management, Inc. (NYSE:WM)

GM Advisory Group LLC increased its position in Waste Management, Inc. (NYSE:WM) by 31.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,925 shares of the business services provider’s stock after purchasing an additional 463 shares during the period. GM Advisory Group LLC’s holdings in Waste Management were worth $400,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC grew its holdings in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after buying an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after buying an additional 12,664 shares in the last quarter. Legal & General Group Plc grew its holdings in Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after buying an additional 243,900 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Waste Management by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after buying an additional 221,380 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. CIBC lifted their price target on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Performance

Waste Management stock opened at $224.41 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a market cap of $90.07 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.84. The firm has a 50-day moving average of $212.84 and a 200-day moving average of $210.10.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. Waste Management’s dividend payout ratio is 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Company 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.