Parsons Capital Management Inc. RI Buys 1,154 Shares of Waste Management, Inc. (NYSE:WM)

Parsons Capital Management Inc. RI grew its position in shares of Waste Management, Inc. (NYSE:WM) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,514 shares of the business services provider’s stock after acquiring an additional 1,154 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Waste Management were worth $2,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of WM. Geode Capital Management LLC raised its stake 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 worth $1,686,203,000 after purchasing an additional 168,818 shares during the last quarter. Parnassus Investments LLC grew its holdings in 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 buying an additional 520,096 shares in the last quarter. Nordea Investment Management AB raised its position 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 valued at $854,446,000 after buying an additional 280,455 shares during the last quarter. International Assets Investment Management LLC boosted 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 worth $538,013,000 after acquiring an additional 2,588,842 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Waste Management by 12.8% in the 3rd quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock worth $505,175,000 after acquiring an additional 276,287 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the 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 sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $213.46 on Tuesday. The company has a 50 day moving average of $212.64 and a 200 day moving average of $211.28. 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 stock has a market cap of $85.67 billion, a P/E ratio of 32.64, a P/E/G ratio of 2.17 and a beta of 0.77. Waste Management, Inc. has a 12 month low of $184.72 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping 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 analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Waste Management’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. Waste Management’s payout ratio is 45.87%.

Analyst Ratings Changes

A number of research analysts recently weighed in on WM shares. Scotiabank raised shares of Waste Management from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $225.00 to $250.00 in a research report on Monday. CIBC boosted their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Argus increased their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Truist Financial upped their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group reduced their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average target price of $231.39.

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.