Activest Wealth Management Increases Stock Position in Waste Management, Inc. (NYSE:WM)

Activest Wealth Management raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4,000.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 123 shares of the business services provider’s stock after acquiring an additional 120 shares during the quarter. Activest Wealth Management’s holdings in Waste Management were worth $26,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management in the second quarter worth approximately $31,000. Fairway Wealth LLC increased its position in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management in the second quarter worth about $36,000. Fairscale Capital LLC purchased a new position in shares of Waste Management during the 2nd quarter valued at about $39,000. Finally, Hexagon Capital Partners LLC increased its holdings in Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 1.3 %

Shares of NYSE WM opened at $221.53 on Friday. The stock has a 50 day moving average price of $212.52 and a 200 day moving average price of $210.00. The firm has a market capitalization of $88.92 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $226.84. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 1.35%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WM. UBS Group upped their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price objective on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. CIBC lifted their target price on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $226.11.

Waste Management Company Profile

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.