Purus Wealth Management LLC Buys 732 Shares of Waste Management, Inc. (NYSE:WM)

Purus Wealth Management LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,178 shares of the business services provider’s stock after purchasing an additional 732 shares during the quarter. Waste Management accounts for 3.3% of Purus Wealth Management LLC’s holdings, making the stock its 7th biggest holding. Purus Wealth Management LLC’s holdings in Waste Management were worth $8,309,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Aberdeen Wealth Management LLC lifted its stake in Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after buying an additional 46 shares in the last quarter. Benchmark Financial Wealth Advisors LLC raised its stake in Waste Management by 1.9% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after acquiring an additional 49 shares in the last quarter. Balboa Wealth Partners lifted its holdings in shares of Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after acquiring an additional 49 shares during the last quarter. Finally, Werlinich Asset Management LLC boosted its stake in shares of Waste Management by 1.2% in the 3rd quarter. Werlinich Asset Management LLC now owns 4,385 shares of the business services provider’s stock valued at $910,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction 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 sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on WM shares. Stifel Nicolaus raised their price objective on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Truist Financial boosted their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research 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. Royal Bank of Canada raised their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, Oppenheimer increased their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Price Performance

NYSE WM opened at $211.79 on Monday. Waste Management, Inc. has a 1-year low of $181.56 and a 1-year high of $230.39. The business’s fifty day moving average price is $213.80 and its 200-day moving average price is $211.25. The stock has a market capitalization of $85.01 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.10 and a beta of 0.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.51 billion. During the same period last year, the company posted $1.63 earnings per share. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is presently 45.87%.

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.