Garner Asset Management Corp Buys 649 Shares of Waste Management, Inc. (NYSE:WM)

Garner Asset Management Corp increased its position in shares of Waste Management, Inc. (NYSE:WM) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,420 shares of the business services provider’s stock after purchasing an additional 649 shares during the quarter. Waste Management makes up approximately 1.0% of Garner Asset Management Corp’s holdings, making the stock its 28th biggest holding. Garner Asset Management Corp’s holdings in Waste Management were worth $2,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC raised its stake in shares of Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after acquiring an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. raised its position in Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares during the last quarter. Legal & General Group Plc boosted its stake in Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares in the last quarter. International Assets Investment Management LLC grew its holdings 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 purchasing an additional 2,588,842 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after buying an additional 221,380 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Trading Up 1.3 %

Shares of Waste Management stock opened at $224.41 on Friday. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.84. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $212.84 and its 200-day moving average is $210.10. The stock has a market cap of $90.07 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.33 and a beta of 0.74.

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

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.34%. Waste Management’s dividend payout ratio is currently 45.87%.

Analyst Ratings Changes

Several research firms recently weighed in on WM. Royal Bank of Canada boosted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial upped their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer boosted their price target on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company 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.