Red Door Wealth Management LLC Grows Holdings in Waste Management, Inc. (NYSE:WM)

Red Door Wealth Management LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 11.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,617 shares of the business services provider’s stock after purchasing an additional 3,455 shares during the quarter. Red Door Wealth Management LLC’s holdings in Waste Management were worth $6,784,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management grew its position in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares during the period. General Partner Inc. bought a new position in Waste Management during the 4th quarter worth about $29,000. Sugar Maple Asset Management LLC purchased a new position in Waste Management during the 4th quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the second quarter worth approximately $36,000. 80.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on WM. Truist Financial lifted their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 4th. UBS Group boosted their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets increased their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned 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 target price of $229.72.

Waste Management Price Performance

Shares of WM stock opened at $209.96 on Friday. The company has a market capitalization of $84.27 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. 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 firm’s 50-day moving average is $213.04 and its two-hundred day moving average is $211.29. Waste Management, Inc. has a 12 month low of $183.00 and a 12 month high of $230.39.

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

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is 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.