Tower Bridge Advisors Increases Holdings in Waste Management, Inc. (NYSE:WM)

Tower Bridge Advisors raised its stake in Waste Management, Inc. (NYSE:WM) by 16.6% during the third quarter, HoldingsChannel reports. The fund owned 21,022 shares of the business services provider’s stock after buying an additional 3,000 shares during the period. Tower Bridge Advisors’ holdings in Waste Management were worth $4,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TIAA Trust National Association raised its holdings in Waste Management by 5.2% in the first quarter. TIAA Trust National Association now owns 19,675 shares of the business services provider’s stock worth $4,194,000 after buying an additional 966 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Waste Management by 11.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,724 shares of the business services provider’s stock worth $2,286,000 after acquiring an additional 1,094 shares during the last quarter. Patten & Patten Inc. TN bought a new position in Waste Management in the 1st quarter valued at approximately $211,000. Edgestream Partners L.P. boosted its stake in Waste Management by 202.7% during the 1st quarter. Edgestream Partners L.P. now owns 16,655 shares of the business services provider’s stock valued at $3,550,000 after purchasing an additional 11,152 shares during the last quarter. Finally, Catalytic Wealth RIA LLC raised its stake in shares of Waste Management by 19.3% in the first quarter. Catalytic Wealth RIA LLC now owns 2,375 shares of the business services provider’s stock worth $506,000 after purchasing an additional 384 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

NYSE WM opened at $217.90 on Friday. The stock has a market cap of $87.46 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $226.84. The company’s 50 day moving average is $211.61 and its two-hundred day moving average is $209.68. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS 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 firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm earned $1.63 EPS. The company’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WM shares. BMO Capital Markets increased their price objective 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. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

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.