Inspire Investing LLC Buys 135 Shares of Waste Management, Inc. (NYSE:WM)

Inspire Investing LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 10.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,370 shares of the business services provider’s stock after acquiring an additional 135 shares during the quarter. Inspire Investing LLC’s holdings in Waste Management were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management in the second quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management during the first quarter valued at approximately $35,000. Fairway Wealth LLC lifted its stake in shares of 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 purchasing an additional 66 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter worth approximately $36,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WM. Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. CIBC decreased 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 note on Friday, July 26th. Robert W. Baird cut their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, BMO Capital Markets decreased their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $218.89.

Waste Management Stock Performance

Shares of NYSE:WM opened at $212.75 on Friday. The firm has a 50 day moving average of $208.28 and a 200 day moving average of $208.47. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $85.33 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $153.95 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.51 earnings per share. On average, sell-side analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. Waste Management’s payout ratio is 49.10%.

Waste Management Company 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.