Magnus Financial Group LLC Acquires 1,034 Shares of Waste Management, Inc. (NYSE:WM)

Magnus Financial Group LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 32.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,220 shares of the business services provider’s stock after acquiring an additional 1,034 shares during the period. Magnus Financial Group LLC’s holdings in Waste Management were worth $876,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sustainable Growth Advisers LP bought a new stake in Waste Management during the first quarter worth about $300,594,000. Capital World Investors increased its stake in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares during the period. Swedbank AB bought a new position in shares of Waste Management during the first quarter valued at about $193,955,000. Wulff Hansen & CO. raised its position in Waste Management by 20,402.6% during the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its stake in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after acquiring an additional 720,358 shares during the period. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. CIBC lowered their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Truist Financial dropped their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada cut their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Finally, William Blair assumed coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Price Performance

WM stock opened at $213.79 on Wednesday. The business has a fifty day moving average of $207.82 and a two-hundred day moving average of $208.42. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a market cap of $85.75 billion, a price-to-earnings ratio of 34.99, a price-to-earnings-growth ratio of 2.36 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.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.51 earnings per share. As a group, research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.40%. Waste Management’s dividend payout ratio is currently 49.10%.

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.