Core Wealth Partners LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Core Wealth Partners LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) during the third quarter, HoldingsChannel reports. The firm purchased 3,510 shares of the business services provider’s stock, valued at approximately $729,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management during the 2nd quarter worth about $31,000. Fairway Wealth LLC raised its holdings in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. Fairscale Capital LLC acquired a new stake in Waste Management during the second quarter worth approximately $39,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management in the second quarter valued at approximately $36,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after purchasing an additional 80 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on WM. William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Truist Financial lifted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Argus increased their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird dropped their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Waste Management Stock Performance

Waste Management stock opened at $224.12 on Monday. The stock has a market cap of $89.96 billion, a PE ratio of 34.27, a P/E/G ratio of 2.36 and a beta of 0.74. 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 business’s 50-day moving average price is $210.21 and its two-hundred day moving average price is $209.25. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.36.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the company posted $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.34%. Waste Management’s payout ratio is 45.87%.

Waste Management Company 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.