Mainstay Capital Management LLC ADV Purchases 1,519 Shares of Waste Management, Inc. (NYSE:WM)

Mainstay Capital Management LLC ADV boosted its position in Waste Management, Inc. (NYSE:WM) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,137 shares of the business services provider’s stock after acquiring an additional 1,519 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Waste Management were worth $1,642,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Waste Management by 2.1% in the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock valued at $1,686,203,000 after acquiring an additional 168,818 shares during the last quarter. Parnassus Investments LLC boosted 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 acquiring an additional 520,096 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Waste Management by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after acquiring an additional 280,455 shares during the last quarter. Barclays PLC boosted its holdings in Waste Management by 12.8% in the third quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock valued at $505,175,000 after acquiring an additional 276,287 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Waste Management by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,087,006 shares of the business services provider’s stock worth $433,262,000 after buying an additional 18,983 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $227.89 on Monday. The business has a fifty day simple moving average of $213.43 and a 200 day simple moving average of $213.12. The company has a market capitalization of $91.63 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $230.39. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. Waste Management’s dividend payout ratio is presently 44.12%.

Insider Activity

In other news, CFO Devina A. Rankin sold 5,826 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total transaction of $1,294,071.12. Following the completion of the transaction, the chief financial officer now owns 69,442 shares of the company’s stock, valued at approximately $15,424,457.04. The trade was a 7.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rafael Carrasco sold 4,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the transaction, the senior vice president now directly owns 18,531 shares of the company’s stock, valued at $4,185,967.59. This trade represents a 17.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,055 shares of company stock worth $3,578,340. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WM shares. Truist Financial raised 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. Scotiabank raised their target price on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. StockNews.com cut Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Oppenheimer raised their price target on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets lifted their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Nine 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.94.

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.