Waste Management, Inc. (NYSE:WM) Holdings Increased by Garner Asset Management Corp

Garner Asset Management Corp increased its stake in Waste Management, Inc. (NYSE:WM) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,420 shares of the business services provider’s stock after acquiring an additional 649 shares during the period. Waste Management makes up approximately 1.0% of Garner Asset Management Corp’s investment portfolio, making the stock its 28th biggest position. Garner Asset Management Corp’s holdings in Waste Management were worth $2,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Aberdeen Wealth Management LLC boosted its stake in Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after buying an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its position in shares of Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 46 shares in the last quarter. ARS Wealth Advisors Group LLC grew its stake in shares of Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after purchasing an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares in the last quarter. Finally, Balboa Wealth Partners lifted its stake in Waste Management by 4.1% during the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $224.41 on Friday. The company has a market cap of $90.07 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.33 and a beta of 0.74. The business has a 50 day moving average price of $212.84 and a 200 day moving average price of $210.10. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share 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 company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business earned $1.63 earnings per share. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on WM. Scotiabank began coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. Royal Bank of Canada upped their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.