Covea Finance Has $51.53 Million Stock Position in Waste Management, Inc. $WM

Covea Finance lessened its holdings in Waste Management, Inc. (NYSE:WM) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 233,353 shares of the business services provider’s stock after selling 23,748 shares during the period. Waste Management accounts for about 1.8% of Covea Finance’s investment portfolio, making the stock its 12th biggest holding. Covea Finance’s holdings in Waste Management were worth $51,531,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WM. Saudi Central Bank bought a new stake in shares of Waste Management during the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management in the 1st quarter worth approximately $38,000. Loomis Sayles & Co. L P bought a new stake in Waste Management during the second quarter worth approximately $40,000. Wealth Watch Advisors INC acquired a new position in Waste Management during the second quarter valued at approximately $43,000. Finally, eCIO Inc. bought a new position in shares of Waste Management in the first quarter valued at approximately $53,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 0.5%

WM stock opened at $221.39 on Friday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. The company has a market cap of $89.19 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 2.73 and a beta of 0.58. The business’s 50-day simple moving average is $211.68 and its 200 day simple moving average is $220.73.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The firm had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.Waste Management’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 EPS. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s payout ratio is 51.97%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WM. Morgan Stanley reduced their price objective on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Truist Financial set a $260.00 price target on Waste Management in a research report on Wednesday, October 29th. Wells Fargo & Company initiated coverage on Waste Management in a research note on Friday, November 14th. They issued an “overweight” rating and a $238.00 price objective on the stock. Finally, Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $248.95.

Insider Activity

In other news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.