MBA Advisors LLC Raises Stock Holdings in Waste Management, Inc. (NYSE:WM)

MBA Advisors LLC raised its position in shares of Waste Management, Inc. (NYSE:WM) by 13.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,521 shares of the business services provider’s stock after buying an additional 179 shares during the quarter. MBA Advisors LLC’s holdings in Waste Management were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WM. International Assets Investment Management LLC grew its stake in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management in the first quarter worth $300,594,000. Capital World Investors increased its holdings in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB purchased a new position in shares of Waste Management in the 1st quarter worth about $193,955,000. Finally, Wulff Hansen & CO. boosted its stake in Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Truist Financial decreased their price objective 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. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada decreased their price target on 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, CIBC dropped their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.89.

Waste Management Stock Up 0.7 %

NYSE WM opened at $209.70 on Tuesday. Waste Management, Inc. has a 52 week low of $161.60 and a 52 week high of $225.00. 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 $84.16 billion, a P/E ratio of 33.12, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The stock’s 50-day moving average price is $208.81 and its 200-day moving average price is $208.58.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 EPS. On average, equities research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid 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 1.43%. Waste Management’s 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.