Kingsview Wealth Management LLC Raises Holdings in Waste Management, Inc. (NYSE:WM)

Kingsview Wealth Management LLC lifted its holdings in Waste Management, Inc. (NYSE:WM) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,992 shares of the business services provider’s stock after buying an additional 696 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Waste Management were worth $2,490,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WM. Parnassus Investments LLC grew its holdings in Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after acquiring an additional 12,664 shares during the last quarter. Legal & General Group Plc increased its holdings in Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after acquiring an additional 243,900 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Waste Management by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after purchasing an additional 221,380 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WM. Scotiabank started coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. CIBC raised their price target 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. UBS Group boosted their price target on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Argus lifted their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’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 completion of the transaction, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE WM opened at $224.41 on Monday. The business has a 50 day moving average price of $212.84 and a two-hundred day moving average price of $210.10. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $226.84. The firm has a market cap of $90.07 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm earned $1.63 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

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.