Activest Wealth Management Boosts Stock Position in Waste Management, Inc. (NYSE:WM)

Activest Wealth Management grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4,000.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123 shares of the business services provider’s stock after purchasing an additional 120 shares during the quarter. Activest Wealth Management’s holdings in Waste Management were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the 2nd quarter valued at about $31,000. Fairway Wealth LLC boosted its holdings in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management during the second quarter worth $36,000. Fairscale Capital LLC bought a new stake in shares of Waste Management during the 2nd quarter valued at $39,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Waste Management by 67.2% in the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after buying an additional 80 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

Shares of WM stock opened at $221.53 on Friday. 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 $88.92 billion, a P/E ratio of 33.87, a P/E/G ratio of 2.30 and a beta of 0.74. The business’s 50 day moving average price is $212.52 and its 200-day moving average price is $210.00. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $226.84.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of recent analyst reports. 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 report on Wednesday, October 30th. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.11.

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.