Old West Investment Management LLC Buys New Stake in Waste Management, Inc. (NYSE:WM)

Old West Investment Management LLC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,952 shares of the business services provider’s stock, valued at approximately $416,000.

Several other institutional investors have also bought and sold shares of the business. Moors & Cabot Inc. lifted its holdings in shares of Waste Management by 0.6% in the 2nd quarter. Moors & Cabot Inc. now owns 59,306 shares of the business services provider’s stock valued at $12,652,000 after acquiring an additional 365 shares during the last quarter. Luts & Greenleigh Group Inc. purchased a new stake in Waste Management during the second quarter valued at approximately $1,569,000. Wulff Hansen & CO. lifted 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 purchasing an additional 863,846 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Waste Management by 27.1% in the 2nd quarter. Renaissance Technologies LLC now owns 493,700 shares of the business services provider’s stock worth $105,326,000 after purchasing an additional 105,200 shares during the period. Finally, Total Clarity Wealth Management Inc. increased its position in shares of Waste Management by 4.2% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 1,678 shares of the business services provider’s stock valued at $358,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $208.36 on Tuesday. The firm has a market cap of $83.57 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company’s 50 day moving average is $209.19 and its 200 day moving average is $208.80.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.51 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio is currently 49.10%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WM. Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. CIBC lowered their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Robert W. Baird decreased their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

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.