Cypress Wealth Services LLC Takes $394,000 Position in Waste Management, Inc. (NYSE:WM)

Cypress Wealth Services LLC bought a new position in shares of Waste Management, Inc. (NYSE:WMFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,897 shares of the business services provider’s stock, valued at approximately $394,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sustainable Growth Advisers LP acquired a new position in shares of Waste Management in the 1st quarter worth $300,594,000. Capital World Investors increased its stake in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. Swedbank AB acquired a new stake in Waste Management during the 1st quarter worth about $193,955,000. Wulff Hansen & CO. lifted its stake in Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after buying an additional 863,846 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its holdings in shares of Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after buying an additional 720,358 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Scotiabank assumed coverage on shares of Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. BMO Capital Markets dropped their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Truist Financial decreased their price objective 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. Finally, William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Check Out Our Latest Stock Report on WM

Waste Management Trading Down 0.5 %

NYSE:WM opened at $211.25 on Friday. 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 $207.18 and its 200-day moving average is $208.46. The firm has a market cap of $84.78 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 2.37 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00.

Waste Management (NYSE:WMGet Free Report) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion during 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 firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management’s payout ratio is 47.69%.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated 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 transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management 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.

See Also

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

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