Hennion & Walsh Asset Management Inc. Buys 5,580 Shares of Waste Management, Inc. (NYSE:WM)

Hennion & Walsh Asset Management Inc. raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 43.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,323 shares of the business services provider’s stock after acquiring an additional 5,580 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Waste Management were worth $3,804,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings in Waste Management by 170.5% during 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 during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the 2nd quarter worth $31,000. Fairway Wealth LLC grew its position in Waste Management by 62.9% during the second 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 during the period. Fairscale Capital LLC purchased a new stake in Waste Management during the second quarter worth about $39,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Waste Management in the second quarter valued at about $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on WM. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. CIBC cut their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada reduced their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Finally, Truist Financial dropped their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Price Performance

WM stock opened at $208.91 on Friday. The firm has a 50 day simple moving average of $208.70 and a two-hundred day simple moving average of $208.54. The stock has a market cap of $83.84 billion, a PE ratio of 33.21, a P/E/G ratio of 2.34 and a beta of 0.74. Waste Management, Inc. has a one year low of $156.36 and a one year 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 earnings results on Wednesday, July 24th. The business services provider reported $1.82 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 business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

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 $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s payout ratio is 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.