Northeast Financial Consultants Inc Grows Holdings in Waste Management, Inc. (NYSE:WM)

Northeast Financial Consultants Inc grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,893 shares of the business services provider’s stock after purchasing an additional 89 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Waste Management were worth $6,829,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the period. Swedbank AB grew its stake in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Waste Management by 248.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider’s stock worth $210,092,000 after purchasing an additional 702,188 shares during the period. Finally, Parnassus Investments LLC raised its position in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $222.19 on Friday. The company has a 50 day moving average price of $216.94 and a 200 day moving average price of $211.21. The firm has a market capitalization of $89.18 billion, a P/E ratio of 33.97, a PEG ratio of 2.38 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 52 week low of $171.15 and a 52 week high of $230.39.

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 analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. Sell-side analysts expect that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Analyst Ratings Changes

WM has been the topic of a number of recent research reports. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 1st. CIBC increased their target price on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group boosted their price target 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. Morgan Stanley increased their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Truist Financial boosted 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. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.33.

Insider Buying and Selling

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was 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 represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.