6,578 Shares in Waste Management, Inc. (NYSE:WM) Bought by Sky Investment Group LLC

Sky Investment Group LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the 3rd quarter, Holdings Channel.com reports. The firm bought 6,578 shares of the business services provider’s stock, valued at approximately $1,366,000.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WM shares. CIBC cut their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Robert W. Baird lowered their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Truist Financial decreased their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. BMO Capital Markets dropped their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada lowered their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Stock Performance

Shares of Waste Management stock traded down $1.49 on Tuesday, reaching $210.33. 114,707 shares of the company traded hands, compared to its average volume of 1,614,351. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The firm has a market capitalization of $84.41 billion, a PE ratio of 33.68, a PEG ratio of 2.38 and a beta of 0.74. The company has a 50 day moving average of $208.45 and a 200 day moving average of $208.49. Waste Management, Inc. has a 52 week low of $153.95 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last released its 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. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the business posted $1.51 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is currently 47.69%.

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.