Townsquare Capital LLC Purchases 2,133 Shares of Waste Management, Inc. (NYSE:WM)

Townsquare Capital LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,280 shares of the business services provider’s stock after acquiring an additional 2,133 shares during the period. Townsquare Capital LLC’s holdings in Waste Management were worth $5,663,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Aberdeen Wealth Management LLC raised its position in Waste Management by 1.1% in the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after acquiring an additional 45 shares during the period. Signature Estate & Investment Advisors LLC raised its position in Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after acquiring an additional 46 shares during the period. ARS Wealth Advisors Group LLC raised its position in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC raised its position in shares of Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares during the period. Finally, Balboa Wealth Partners raised its position in shares of Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 49 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on 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. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

WM stock opened at $228.46 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a one year low of $168.73 and a one year high of $230.39. The stock has a market cap of $91.70 billion, a PE ratio of 34.93, a P/E/G ratio of 2.40 and a beta of 0.74. The firm has a 50 day simple moving average of $214.69 and a two-hundred day simple moving average of $210.57.

Waste Management (NYSE:WM) last announced 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 company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.31%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial boosted their price target 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. BMO Capital Markets boosted their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. William Blair initiated coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC boosted their price objective on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Argus boosted their price objective on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.94.

Waste Management 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.