Waste Management, Inc. (NYSE:WM) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its holdings in Waste Management, Inc. (NYSE:WM) by 14.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,003 shares of the business services provider’s stock after buying an additional 619 shares during the period. Exchange Traded Concepts LLC’s holdings in Waste Management were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its holdings in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management during the second quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new position in Waste Management during the first quarter worth $35,000. Fairway Wealth LLC grew its holdings in Waste Management by 62.9% in 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. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management during the 2nd quarter worth $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WM has been the subject of several recent analyst reports. CIBC cut their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Truist Financial decreased their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Oppenheimer cut their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Stock Down 0.3 %

Waste Management stock opened at $213.13 on Thursday. The firm has a market capitalization of $85.53 billion, a P/E ratio of 33.88, a P/E/G ratio of 2.39 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a twelve month low of $153.95 and a twelve month high of $225.00. The stock’s fifty day simple moving average is $207.98 and its 200-day simple moving average is $208.45.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the company earned $1.51 EPS. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is presently 47.69%.

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.