Asset Dedication LLC Increases Position in Waste Management, Inc. (NYSE:WM)

Asset Dedication LLC raised its position in Waste Management, Inc. (NYSE:WM) by 24.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 985 shares of the business services provider’s stock after purchasing an additional 192 shares during the quarter. Asset Dedication LLC’s holdings in Waste Management were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Waste Management in the second quarter valued at about $31,000. Sachetta LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management in the first quarter valued at about $35,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WM has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. CIBC cut their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. BMO Capital Markets cut their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Down 1.8 %

WM stock opened at $204.73 on Monday. The company’s 50 day simple moving average is $209.43 and its 200-day simple moving average is $208.76. The firm has a market capitalization of $82.16 billion, a PE ratio of 33.51, a P/E/G ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 earnings per share. Equities analysts expect 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 will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. Waste Management’s dividend payout ratio (DPR) is currently 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.