Sompo Asset Management Co. Ltd. Purchases 240 Shares of Waste Management, Inc. (NYSE:WM)

Sompo Asset Management Co. Ltd. grew its position in shares of Waste Management, Inc. (NYSE:WM) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,220 shares of the business services provider’s stock after buying an additional 240 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Waste Management were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Trium Capital LLP lifted its position in shares of Waste Management by 33.6% during the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after buying an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in Waste Management by 77.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after buying an additional 5,367 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Waste Management by 417.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock valued at $720,000 after buying an additional 2,800 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Waste Management by 32.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock valued at $374,062,000 after buying an additional 437,613 shares in the last quarter. Finally, Swedbank AB grew its stake in Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after buying an additional 709,678 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the firm’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 transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Argus upped their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley upped their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on shares of Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Finally, Truist Financial upped their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Price Performance

WM stock opened at $224.41 on Monday. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $226.84. The company has a market cap of $90.07 billion, a P/E ratio of 34.31, a PEG ratio of 2.36 and a beta of 0.74. The firm has a 50-day moving average of $212.84 and a 200 day moving average of $210.10. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

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

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.