BNP Paribas Financial Markets Raises Position in Waste Management, Inc. (NYSE:WM)

BNP Paribas Financial Markets raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 52.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 572,326 shares of the business services provider’s stock after buying an additional 197,841 shares during the quarter. BNP Paribas Financial Markets owned about 0.14% of Waste Management worth $118,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Activest Wealth Management increased its position in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the 2nd quarter worth $31,000. Fairway Wealth LLC raised its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management during the 2nd quarter worth $36,000. Finally, Fairscale Capital LLC purchased a new position in Waste Management in the second quarter worth $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Stock Performance

Shares of WM stock opened at $227.45 on Wednesday. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $228.52. The stock has a market cap of $91.29 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. The company’s fifty day moving average price is $213.68 and its 200-day moving average price is $210.32. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.32%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WM shares. Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Scotiabank initiated coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. UBS Group lifted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial increased their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $226.11.

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.