TrinityPoint Wealth LLC Acquires 151 Shares of Waste Management, Inc. (NYSE:WM)

TrinityPoint Wealth LLC increased its holdings in Waste Management, Inc. (NYSE:WM) by 5.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,086 shares of the business services provider’s stock after purchasing an additional 151 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Waste Management were worth $641,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. William Blair assumed coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. BMO Capital Markets lifted their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their target price on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

NYSE:WM opened at $218.31 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The company has a 50 day moving average price of $211.80 and a 200-day moving average price of $209.78. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.84. The firm has a market cap of $87.62 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

About Waste Management

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.