Miracle Mile Advisors LLC Buys 417 Shares of Waste Management, Inc. (NYSE:WM)

Miracle Mile Advisors LLC lifted its stake in Waste Management, Inc. (NYSE:WMFree Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,662 shares of the business services provider’s stock after acquiring an additional 417 shares during the period. Miracle Mile Advisors LLC’s holdings in Waste Management were worth $4,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WM. American Century Companies Inc. raised its position in shares of Waste Management by 24.2% in the second quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider’s stock worth $14,427,000 after buying an additional 13,193 shares in the last quarter. Federated Hermes Inc. raised its position in Waste Management by 0.9% during the second quarter. Federated Hermes Inc. now owns 47,596 shares of the business services provider’s stock valued at $10,154,000 after purchasing an additional 431 shares in the last quarter. Wealthspire Advisors LLC raised its position in Waste Management by 11.3% during the second quarter. Wealthspire Advisors LLC now owns 6,174 shares of the business services provider’s stock valued at $1,317,000 after purchasing an additional 628 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Waste Management by 4.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,266 shares of the business services provider’s stock valued at $1,763,000 after purchasing an additional 358 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in Waste Management by 48.2% during the second quarter. J.W. Cole Advisors Inc. now owns 6,931 shares of the business services provider’s stock valued at $1,479,000 after purchasing an additional 2,255 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WM shares. Argus raised their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Royal Bank of Canada upped their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped 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. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $230.72.

Check Out Our Latest Research Report on Waste Management

Waste Management Stock Performance

WM stock opened at $207.12 on Tuesday. The stock has a market capitalization of $83.13 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. Waste Management, Inc. has a 12-month low of $180.17 and a 12-month high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock’s 50 day simple moving average is $214.62 and its 200 day simple moving average is $211.29.

Waste Management (NYSE:WMGet Free Report) last released its quarterly earnings data 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 business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 EPS. As a group, research analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Waste Management’s payout ratio is 45.87%.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the 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 transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

About Waste Management

(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.

Read More

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WMFree Report).

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

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.