Waste Management, Inc. (NYSE:WM) Shares Acquired by Drake & Associates LLC

by · The Markets Daily

Drake & Associates LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 21.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,790 shares of the business services provider’s stock after purchasing an additional 321 shares during the period. Drake & Associates LLC’s holdings in Waste Management were worth $372,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management in the second quarter valued at $31,000. Opal Wealth Advisors LLC acquired a new stake in Waste Management in the first quarter valued at $35,000. Fairway Wealth LLC lifted its holdings in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 0.0 %

Shares of Waste Management stock opened at $213.08 on Friday. The firm has a market cap of $85.51 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $153.95 and a 52-week high of $225.00. The company’s 50-day simple moving average is $208.13 and its 200-day simple moving average is $208.49. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM – Get Free Report) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s payout ratio is currently 47.69%.

Analyst Ratings Changes

WM has been the subject of several recent analyst reports. Oppenheimer decreased their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Truist Financial dropped their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Scotiabank initiated coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. Finally, William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued 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 $218.89.

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Waste Management Profile

(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.

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