Sompo Asset Management Co. Ltd. Acquires 240 Shares of Waste Management, Inc. (NYSE:WM)

Sompo Asset Management Co. Ltd. increased its position in Waste Management, Inc. (NYSE:WM) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,220 shares of the business services provider’s stock after purchasing an additional 240 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Waste Management were worth $461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WM. Activest Wealth Management lifted its holdings in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the 2nd quarter worth about $31,000. Fairway Wealth LLC grew its position in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the 2nd quarter worth about $36,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Waste Management during the 2nd quarter valued at about $39,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $224.41 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a fifty day moving average price of $212.84 and a 200 day moving average price of $210.10. The company has a market cap of $90.07 billion, a P/E ratio of 34.31, a PEG ratio of 2.36 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $226.84.

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, 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 firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the company earned $1.63 earnings per share. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.34%. Waste Management’s payout ratio is 45.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WM shares. Oppenheimer raised their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. CIBC raised their target price on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, William Blair started coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the firm’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 in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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.