Grandview Asset Management LLC Trims Stock Position in Waste Management, Inc. (NYSE:WM)

Grandview Asset Management LLC cut its stake in shares of Waste Management, Inc. (NYSE:WMFree Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,596 shares of the business services provider’s stock after selling 751 shares during the period. Waste Management makes up 1.3% of Grandview Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Grandview Asset Management LLC’s holdings in Waste Management were worth $2,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Acadian Asset Management LLC raised its stake in shares of Waste Management by 534.5% during the 1st quarter. Acadian Asset Management LLC now owns 3,344 shares of the business services provider’s stock worth $530,000 after buying an additional 2,817 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Waste Management by 0.7% during the 1st quarter. Blair William & Co. IL now owns 53,067 shares of the business services provider’s stock worth $8,411,000 after buying an additional 370 shares in the last quarter. Baird Financial Group Inc. increased its stake in Waste Management by 0.6% in the 1st quarter. Baird Financial Group Inc. now owns 358,624 shares of the business services provider’s stock valued at $56,842,000 after purchasing an additional 2,309 shares in the last quarter. Covestor Ltd increased its stake in Waste Management by 83.8% in the 1st quarter. Covestor Ltd now owns 680 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 310 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Waste Management by 44.8% in the 1st quarter. NewEdge Advisors LLC now owns 33,030 shares of the business services provider’s stock valued at $5,234,000 after purchasing an additional 10,212 shares in the last quarter. 78.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John C. Pope sold 185 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $181.00, for a total transaction of $33,485.00. Following the completion of the sale, the director now owns 56,461 shares in the company, valued at approximately $10,219,441. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John C. Pope sold 185 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $181.00, for a total value of $33,485.00. Following the completion of the sale, the director now owns 56,461 shares in the company, valued at $10,219,441. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,242 shares of company stock worth $5,929,355. Insiders own 0.27% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE WM traded down $0.28 during midday trading on Wednesday, hitting $211.80. 1,040,592 shares of the company’s stock were exchanged, compared to its average volume of 1,664,801. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.90 and a quick ratio of 0.86. The stock’s 50 day moving average price is $196.26 and its 200-day moving average price is $176.93. The firm has a market cap of $85.06 billion, a P/E ratio of 37.42, a PEG ratio of 3.20 and a beta of 0.72. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $213.00.

Waste Management (NYSE:WMGet Free Report) last issued its quarterly earnings data on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.21. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.19 billion. Waste Management had a return on equity of 36.51% and a net margin of 11.28%. During the same period in the previous year, the firm posted $1.30 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 6.9 EPS for the current year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, March 14th. This is an increase from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio is 53.00%.

Analysts Set New Price Targets

A number of brokerages have commented on WM. Erste Group Bank upgraded Waste Management from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $190.00 to $205.00 in a report on Wednesday, February 14th. BMO Capital Markets raised their price objective on Waste Management from $184.00 to $196.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. Jefferies Financial Group increased their target price on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Truist Financial increased their target price on Waste Management from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

Check Out Our Latest Research Report on WM

Waste Management Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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