Peterson Wealth Management Raises Stock Holdings in Waste Management, Inc. (NYSE:WM)

Peterson Wealth Management increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 29.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,987 shares of the business services provider’s stock after purchasing an additional 915 shares during the quarter. Peterson Wealth Management’s holdings in Waste Management were worth $828,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WM. Northwest & Ethical Investments L.P. raised its stake in Waste Management by 0.7% in the third quarter. Northwest & Ethical Investments L.P. now owns 246,556 shares of the business services provider’s stock valued at $51,185,000 after buying an additional 1,684 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Waste Management by 21.7% in the third quarter. Public Sector Pension Investment Board now owns 11,235 shares of the business services provider’s stock valued at $2,332,000 after buying an additional 2,000 shares during the last quarter. Financial Counselors Inc. raised its stake in Waste Management by 3.2% in the third quarter. Financial Counselors Inc. now owns 97,426 shares of the business services provider’s stock valued at $20,226,000 after buying an additional 3,031 shares during the last quarter. FORA Capital LLC raised its stake in Waste Management by 707.5% in the third quarter. FORA Capital LLC now owns 28,600 shares of the business services provider’s stock valued at $5,937,000 after buying an additional 25,058 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its stake in Waste Management by 18.2% in the third quarter. CreativeOne Wealth LLC now owns 1,614 shares of the business services provider’s stock valued at $335,000 after buying an additional 249 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research reports. Scotiabank initiated coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. William Blair initiated coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Argus increased their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Morgan Stanley increased their price objective on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $228.94.

Waste Management Stock Up 0.4 %

Shares of WM opened at $228.46 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 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 $230.39. The stock’s 50 day moving average is $214.69 and its two-hundred day moving average is $210.57. The firm has a market cap of $91.70 billion, a P/E ratio of 34.93, a PEG ratio of 2.40 and a beta of 0.74.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 earnings per share. Analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.31%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

Waste Management 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.