Public Sector Pension Investment Board Grows Holdings in Waste Management, Inc. (NYSE:WM)

Public Sector Pension Investment Board raised its position in shares of Waste Management, Inc. (NYSE:WM) by 21.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,235 shares of the business services provider’s stock after purchasing an additional 2,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in Waste Management were worth $2,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WM. Financial Counselors Inc. increased its stake in Waste Management by 3.2% in the 3rd quarter. Financial Counselors Inc. now owns 97,426 shares of the business services provider’s stock worth $20,226,000 after buying an additional 3,031 shares in the last quarter. FORA Capital LLC grew its position in shares of Waste Management by 707.5% during the third quarter. FORA Capital LLC now owns 28,600 shares of the business services provider’s stock worth $5,937,000 after purchasing an additional 25,058 shares in the last quarter. CreativeOne Wealth LLC raised its stake in Waste Management by 18.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,614 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 249 shares during the period. Glenmede Trust Co. NA lifted its holdings in Waste Management by 5.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 34,205 shares of the business services provider’s stock worth $7,101,000 after purchasing an additional 1,701 shares in the last quarter. Finally, RBO & Co. LLC boosted its stake in Waste Management by 1,722.7% in the 3rd quarter. RBO & Co. LLC now owns 54,681 shares of the business services provider’s stock worth $11,352,000 after purchasing an additional 51,681 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.1 %

Shares of NYSE WM opened at $225.31 on Thursday. 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 business’s 50 day moving average price is $216.23 and its 200-day moving average price is $211.00. Waste Management, Inc. has a fifty-two week low of $171.15 and a fifty-two week high of $230.39. The company has a market cap of $90.43 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 2.37 and a beta of 0.75.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.63 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared 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 of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. Waste Management’s payout ratio is 45.87%.

Analysts Set New Price Targets

WM has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. CIBC increased their price objective on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer raised their price objective on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. UBS Group increased their price target on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $228.94.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’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 transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.