TCTC Holdings LLC Has $94.84 Million Position in Waste Management, Inc. (NYSE:WM)

TCTC Holdings LLC lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 456,816 shares of the business services provider’s stock after selling 919 shares during the period. Waste Management comprises about 3.2% of TCTC Holdings LLC’s portfolio, making the stock its 4th biggest holding. TCTC Holdings LLC owned about 0.11% of Waste Management worth $94,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WM. International Assets Investment Management LLC raised its position in shares of Waste Management by 94,414.4% during the third 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. Sustainable Growth Advisers LP bought a new position in shares of Waste Management during the first quarter worth about $300,594,000. Capital World Investors raised its position in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares during the last quarter. Swedbank AB bought a new position in shares of Waste Management during the first quarter worth about $193,955,000. Finally, Wulff Hansen & CO. raised its position in shares of Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after acquiring an additional 863,846 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WM shares. William Blair started coverage on Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. raised their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial raised their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Scotiabank started coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Insider Buying and Selling

In related 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 in the company, valued at approximately $834,946.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Up 1.7 %

Shares of NYSE:WM opened at $224.08 on Friday. The stock has a market cap of $89.94 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.31 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.36. The business’s 50 day moving average is $210.21 and its 200 day moving average is $209.26.

Waste Management (NYSE:WM) last issued its quarterly 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 business 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%. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

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.