Townsend & Associates Inc Grows Stake in Waste Management, Inc. (NYSE:WM)

Townsend & Associates Inc boosted its position in Waste Management, Inc. (NYSE:WM) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,097 shares of the business services provider’s stock after purchasing an additional 1,033 shares during the period. Waste Management makes up approximately 2.0% of Townsend & Associates Inc’s investment portfolio, making the stock its 18th biggest holding. Townsend & Associates Inc’s holdings in Waste Management were worth $19,184,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC lifted its stake in Waste Management by 0.8% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 278,185 shares of the business services provider’s stock worth $56,135,000 after purchasing an additional 2,127 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after acquiring an additional 280,455 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 5,367 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Waste Management by 6.2% during the third quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock valued at $99,759,000 after acquiring an additional 28,266 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Waste Management by 32.3% during the fourth quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider’s stock valued at $1,529,000 after acquiring an additional 1,798 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 4,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the transaction, the senior vice president now owns 18,531 shares in the company, valued at approximately $4,185,967.59. This represents a 17.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Tara J. Hemmer sold 4,576 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the completion of the transaction, the senior vice president now owns 58,765 shares of the company’s stock, valued at approximately $13,052,881.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,055 shares of company stock worth $3,578,340 over the last three months. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of WM opened at $227.89 on Friday. The firm has a market capitalization of $91.63 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $230.39. The company’s fifty day moving average price is $213.43 and its 200-day moving average price is $213.07.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. On average, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. Waste Management’s payout ratio is currently 44.12%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Truist Financial lifted their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. CIBC lifted their price objective on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Raymond James lifted their price objective on shares of Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.94.

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.