Waste Management, Inc. (NYSE:WM) Stake Boosted by Spinnaker Trust

Spinnaker Trust increased its position in shares of Waste Management, Inc. (NYSE:WM) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,364 shares of the business services provider’s stock after acquiring an additional 110 shares during the period. Spinnaker Trust’s holdings in Waste Management were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in Waste Management during the first quarter valued at about $300,594,000. Capital World Investors lifted its position in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares during the last quarter. Swedbank AB bought a new stake in shares of Waste Management during the 1st quarter worth about $193,955,000. Finally, Wulff Hansen & CO. raised its stake in shares of Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after acquiring an additional 863,846 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $218.45 on Thursday. The firm has a market capitalization of $87.68 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.74. 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, Inc. has a 12-month low of $168.73 and a 12-month high of $225.00. The firm has a 50-day moving average price of $209.76 and a 200 day moving average price of $209.06.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm posted $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts anticipate that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price 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. BMO Capital Markets boosted their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. CIBC raised their price target on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.11.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.