Waste Management, Inc. (NYSE:WM) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC raised its position in Waste Management, Inc. (NYSE:WM) by 48.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,356 shares of the business services provider’s stock after buying an additional 10,940 shares during the quarter. Procyon Advisors LLC’s holdings in Waste Management were worth $6,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Activest Wealth Management raised its holdings in Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. acquired a new stake in shares of Waste Management in the 4th quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Waste Management in the 2nd quarter valued at approximately $36,000. Finally, Fairscale Capital LLC purchased a new stake in Waste Management during the second quarter worth $39,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction 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. The trade was 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. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $211.02 on Friday. The company has a market cap of $84.70 billion, a PE ratio of 32.27, a P/E/G ratio of 2.10 and a beta of 0.77. Waste Management, Inc. has a 12 month low of $180.25 and a 12 month high of $230.39. The company has a fifty day moving average price of $214.24 and a two-hundred day moving average price of $211.23. 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, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WM shares. Truist Financial lifted their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price target on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, CIBC upped their target price on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.72.

About Waste Management

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.