Glenmede Trust Co. NA Acquires 1,701 Shares of Waste Management, Inc. (NYSE:WM)

Glenmede Trust Co. NA lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.2% during the third quarter, Holdings Channel.com reports. The firm owned 34,205 shares of the business services provider’s stock after acquiring an additional 1,701 shares during the period. Glenmede Trust Co. NA’s holdings in Waste Management were worth $7,101,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WM. Trium Capital LLP grew its holdings in Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after buying an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Waste Management by 77.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after acquiring an additional 5,367 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Waste Management by 417.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock valued at $720,000 after purchasing an additional 2,800 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Waste Management by 32.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock valued at $374,062,000 after purchasing an additional 437,613 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after buying an additional 709,678 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 0.1 %

Shares of WM stock opened at $228.22 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. The business has a 50-day moving average of $215.17 and a 200 day moving average of $210.69. The stock has a market capitalization of $91.60 billion, a PE ratio of 34.90, a P/E/G ratio of 2.40 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $230.39.

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, 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 analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $1.63 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. 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 insiders.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research analyst reports. Truist Financial boosted their price target 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. Morgan Stanley lifted their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, BMO Capital Markets lifted their price objective on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Ten investment 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 company. According to data from MarketBeat.com, the company currently 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.