First Trust Direct Indexing L.P. Has $3.23 Million Position in Waste Management, Inc. (NYSE:WM)

First Trust Direct Indexing L.P. raised its position in Waste Management, Inc. (NYSE:WM) by 7.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,538 shares of the business services provider’s stock after acquiring an additional 1,073 shares during the period. First Trust Direct Indexing L.P.’s holdings in Waste Management were worth $3,226,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC boosted its holdings in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the 2nd quarter valued at about $31,000. Fairway Wealth LLC boosted its stake in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management during the 2nd quarter worth approximately $36,000. Finally, Fairscale Capital LLC bought a new position in Waste Management during the 2nd quarter worth $39,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.8 %

Shares of NYSE:WM traded down $1.76 during midday trading on Wednesday, reaching $217.35. The company’s stock had a trading volume of 484,662 shares, compared to its average volume of 1,616,072. Waste Management, Inc. has a 12-month low of $162.03 and a 12-month high of $225.00. The firm has a market capitalization of $87.23 billion, a P/E ratio of 34.61, a PEG ratio of 2.29 and a beta of 0.74. The firm has a 50 day moving average of $209.03 and a 200-day moving average of $208.67. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 earnings per share. On average, research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is currently 47.69%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WM. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird reduced their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Truist Financial cut their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. CIBC dropped their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, UBS Group lifted their target price on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.44.

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.