DRW Securities LLC Makes New Investment in Waste Management, Inc. (NYSE:WM)

DRW Securities LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,722 shares of the business services provider’s stock, valued at approximately $773,000.

Several other hedge funds have also recently modified their holdings of the company. Aberdeen Wealth Management LLC lifted its position in shares of Waste Management by 1.1% during the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after buying an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Waste Management by 3.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after purchasing an additional 46 shares during the period. ARS Wealth Advisors Group LLC raised its holdings in shares of Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after purchasing an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares during the period. Finally, Balboa Wealth Partners raised its holdings in shares of Waste Management by 4.1% in the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after purchasing an additional 49 shares during the period. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WM shares. Royal Bank of Canada lifted their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price objective 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. Finally, CIBC boosted their price target on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Performance

Waste Management stock opened at $225.65 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $90.57 billion, a PE ratio of 34.50, a P/E/G ratio of 2.36 and a beta of 0.74. The firm has a fifty day simple moving average of $213.19 and a two-hundred day simple moving average of $210.21. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.96.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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.