Sunbelt Securities Inc. Acquires 164 Shares of Waste Management, Inc. (NYSE:WM)

Sunbelt Securities Inc. lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 19.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 990 shares of the business services provider’s stock after acquiring an additional 164 shares during the period. Sunbelt Securities Inc.’s holdings in Waste Management were worth $206,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Trium Capital LLP raised its stake 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 acquiring an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Waste Management by 77.4% during 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 purchasing an additional 5,367 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Waste Management by 417.3% during the 3rd 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. boosted its position in Waste Management by 32.1% in 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 buying an additional 437,613 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Waste Management by 67.2% during the third 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 in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 0.6 %

Shares of NYSE WM opened at $213.20 on Friday. The firm has a 50 day moving average price of $217.66 and a 200 day moving average price of $211.43. 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 stock has a market cap of $85.57 billion, a P/E ratio of 32.60, a P/E/G ratio of 2.36 and a beta of 0.75. Waste Management, Inc. has a 52-week low of $173.01 and a 52-week high of $230.39.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given 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 1.41%. Waste Management’s dividend payout ratio is presently 45.87%.

Analysts Set New Price Targets

WM has been the topic of several recent analyst reports. Truist Financial boosted their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Argus increased their target price on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price target on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday. CIBC increased their price objective on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Ten 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.72.

Insider Buying and Selling

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. 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 company insiders.

Waste Management Company 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.