Legacy Financial Group LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,794 shares of the business services provider’s stock, valued at approximately $1,775,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management increased its holdings 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. Global Wealth Strategies & Associates boosted its position in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. General Partner Inc. bought a new position in Waste Management in the 4th quarter worth $29,000. Sugar Maple Asset Management LLC bought a new position in Waste Management in the 4th quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the 2nd quarter worth $36,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Waste Management Stock Down 0.3 %
WM opened at $209.43 on Monday. The business’s fifty day simple moving average is $212.64 and its 200 day simple moving average is $211.28. Waste Management, Inc. has a 52 week low of $183.00 and a 52 week high of $230.39. The firm has a market cap of $84.06 billion, a P/E ratio of 32.02, a PEG ratio of 2.17 and a beta of 0.77. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.
Waste Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.
Wall Street Analyst Weigh In
WM has been the subject of several research reports. Royal Bank of Canada increased their price target on shares of 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 raised their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Stifel Nicolaus raised their target price on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group decreased their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $229.72.
Read Our Latest Analysis on WM
Insider Buying and Selling at Waste Management
In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s 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 sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is 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.
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