Waste Management, Inc. (NYSE:WM) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 21.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 11,235 shares of the business services provider’s stock after acquiring an additional 2,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in Waste Management were worth $2,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Activest Wealth Management lifted its position in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the period. Fairway Wealth LLC raised its stake in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management during the 2nd quarter valued at 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 raised its stake in shares of Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WM. William Blair began coverage on Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.94.

Waste Management Trading Up 0.1 %

Shares of Waste Management stock opened at $225.31 on Thursday. The stock has a market cap of $90.43 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.37 and a beta of 0.75. The stock’s 50 day simple moving average is $216.23 and its 200-day simple moving average is $211.00. Waste Management, Inc. has a 1-year low of $171.15 and a 1-year high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

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.