Balentine LLC Purchases 1,580 Shares of Waste Management, Inc. (NYSE:WM)

Balentine LLC raised its holdings in Waste Management, Inc. (NYSE:WMFree Report) by 23.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,233 shares of the business services provider’s stock after acquiring an additional 1,580 shares during the period. Balentine LLC’s holdings in Waste Management were worth $1,474,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of WM. Norges Bank purchased a new position in shares of Waste Management during the 4th quarter valued at about $784,486,000. abrdn plc raised its position in Waste Management by 315.7% in the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after purchasing an additional 1,106,773 shares during the period. Mirova US LLC lifted its stake in Waste Management by 26,116.4% in the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after purchasing an additional 910,418 shares during the last quarter. Nordea Investment Management AB grew its position in Waste Management by 16.9% during the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after acquiring an additional 776,491 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its stake in Waste Management by 128.2% in the 3rd quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock worth $137,012,000 after purchasing an additional 504,924 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Transactions at Waste Management

In related news, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the transaction, the executive vice president now owns 29,677 shares in the company, valued at $6,217,331.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Tara J. Hemmer sold 1,782 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total value of $363,937.86. Following the transaction, the senior vice president now owns 55,591 shares in the company, valued at approximately $11,353,349.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The disclosure for this sale can be found here. Insiders sold 13,282 shares of company stock worth $2,754,889 over the last three months. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Down 0.7 %

Shares of NYSE WM traded down $1.39 during midday trading on Monday, hitting $209.05. The stock had a trading volume of 761,388 shares, compared to its average volume of 1,660,292. The company has a market cap of $83.85 billion, a P/E ratio of 34.21, a PEG ratio of 2.73 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The business’s 50 day moving average is $209.62 and its 200-day moving average is $192.58. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54.

Waste Management (NYSE:WMGet Free Report) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. The business had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.31 EPS. As a group, analysts predict that Waste Management, Inc. will post 7.29 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. 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, June 7th. Waste Management’s payout ratio is presently 49.10%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WM shares. Raymond James raised their target price on shares of Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Citigroup lifted their price objective on Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. CIBC upped their target price on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Robert W. Baird raised their price target on Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Finally, Truist Financial upped their price objective on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $216.24.

Get Our Latest Research Report on WM

Waste Management Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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