Waste Management, Inc. (NYSE:WM) Stock Position Boosted by CGN Advisors LLC

CGN Advisors LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 10.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,793 shares of the business services provider’s stock after buying an additional 1,083 shares during the quarter. CGN Advisors LLC’s holdings in Waste Management were worth $2,380,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Waste Management by 2.1% in the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock valued at $1,686,203,000 after buying an additional 168,818 shares in the last quarter. Parnassus Investments LLC raised its position in shares of Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after purchasing an additional 520,096 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 0.3% in 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 purchasing an additional 12,664 shares during the period. Nordea Investment Management AB increased its stake in Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock worth $854,446,000 after purchasing an additional 280,455 shares in the last quarter. Finally, Legal & General Group Plc raised 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 worth $820,539,000 after buying an additional 243,900 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of Waste Management stock opened at $211.79 on Friday. Waste Management, Inc. has a twelve month low of $181.56 and a twelve month high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The firm has a market cap of $85.01 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. The firm’s 50-day simple moving average is $214.05 and its 200-day simple moving average is $211.22.

Waste Management (NYSE:WM) last released 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. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WM shares. Argus lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. William Blair initiated coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Truist Financial increased their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer increased their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.72.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by insiders.

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.