Merit Financial Group LLC Has $1.77 Million Position in Waste Management, Inc. (NYSE:WM)

Merit Financial Group LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 52.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,774 shares of the business services provider’s stock after acquiring an additional 3,003 shares during the quarter. Merit Financial Group LLC’s holdings in Waste Management were worth $1,770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Sei Investments Co. raised its position in Waste Management by 20.1% during the second quarter. Sei Investments Co. now owns 225,389 shares of the business services provider’s stock valued at $48,085,000 after acquiring an additional 37,754 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Waste Management by 6.0% in the second quarter. Thrivent Financial for Lutherans now owns 49,025 shares of the business services provider’s stock valued at $10,459,000 after purchasing an additional 2,760 shares during the period. ProShare Advisors LLC raised its position in shares of Waste Management by 9.8% in the second quarter. ProShare Advisors LLC now owns 51,214 shares of the business services provider’s stock valued at $10,926,000 after purchasing an additional 4,554 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of Waste Management by 53,520.0% in the second quarter. Frank Rimerman Advisors LLC now owns 8,043 shares of the business services provider’s stock valued at $1,716,000 after purchasing an additional 8,028 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of Waste Management by 40.0% in the second quarter. 1832 Asset Management L.P. now owns 29,584 shares of the business services provider’s stock valued at $6,311,000 after purchasing an additional 8,448 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.4 %

Shares of NYSE:WM opened at $211.79 on Tuesday. Waste Management, Inc. has a 52 week low of $181.56 and a 52 week high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The company’s fifty day moving average is $213.80 and its 200-day moving average is $211.26. The company has a market capitalization of $85.01 billion, a PE ratio of 32.38, a P/E/G ratio of 2.10 and a beta of 0.77.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management’s dividend payout ratio is 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management 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 directly owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WM shares. Truist Financial lifted their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. CIBC lifted their price target on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 4th. Royal Bank of Canada boosted their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $230.72.

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.