Greystone Financial Group LLC Makes New $7.39 Million Investment in Waste Management, Inc. (NYSE:WM)

Greystone Financial Group LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 36,606 shares of the business services provider’s stock, valued at approximately $7,387,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in Waste Management by 2.1% during the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock valued at $1,686,203,000 after purchasing an additional 168,818 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after buying an additional 520,096 shares during the period. Nordea Investment Management AB grew its position in shares of Waste Management by 7.1% during the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after buying an additional 280,455 shares during the last quarter. Barclays PLC lifted its holdings in Waste Management by 12.8% in the third quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock worth $505,175,000 after acquiring an additional 276,287 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Waste Management by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,087,006 shares of the business services provider’s stock valued at $433,262,000 after acquiring an additional 18,983 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In related news, EVP Charles C. Boettcher sold 693 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.59, for a total value of $152,868.87. Following the transaction, the executive vice president now owns 45,542 shares of the company’s stock, valued at approximately $10,046,109.78. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the sale, the chief accounting officer now owns 9,066 shares in the company, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,055 shares of company stock valued at $3,578,340 in the last quarter. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $227.89 on Friday. The stock’s 50 day moving average price is $213.43 and its 200 day moving average price is $213.00. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The stock has a market cap of $91.63 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.71 and a beta of 0.78. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. Waste Management’s dividend payout ratio (DPR) is 44.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WM. Scotiabank increased their price target on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Raymond James increased their target price on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Citigroup boosted their price target on shares of Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial lifted their price objective 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, William Blair restated an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.94.

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.