Cornerstone Wealth Management LLC Raises Position in Waste Management, Inc. (NYSE:WM)

Cornerstone Wealth Management LLC raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,558 shares of the business services provider’s stock after buying an additional 114 shares during the period. Cornerstone Wealth Management LLC’s holdings in Waste Management were worth $718,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Activest Wealth Management grew its position in 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 acquiring an additional 120 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of 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 purchasing an additional 125 shares during the last quarter. General Partner Inc. purchased a new position in shares of Waste Management in the fourth quarter worth $29,000. Sugar Maple Asset Management LLC bought a new stake in Waste Management during the 4th quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Waste Management in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.3 %

Shares of NYSE:WM opened at $209.43 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock has a fifty day simple moving average of $212.64 and a two-hundred day simple moving average of $211.27. Waste Management, Inc. has a 12-month low of $183.00 and a 12-month high of $230.39. The stock has a market capitalization of $84.06 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.17 and a beta of 0.77.

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, research analysts anticipate that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’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 completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. 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

Several equities analysts have recently commented on the stock. William Blair began coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Truist Financial increased their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Royal Bank of Canada lifted their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, CIBC upped their price objective on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $229.72.

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.