CreativeOne Wealth LLC Raises Stock Position in Waste Management, Inc. (NYSE:WM)

CreativeOne Wealth LLC grew its stake in Waste Management, Inc. (NYSE:WM) by 18.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,614 shares of the business services provider’s stock after purchasing an additional 249 shares during the quarter. CreativeOne Wealth LLC’s holdings in Waste Management were worth $335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WM. Parnassus Investments LLC increased its stake in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Legal & General Group Plc boosted its stake in Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Waste Management by 94,414.4% in the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 1.4 %

NYSE:WM opened at $225.13 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 1 year low of $171.15 and a 1 year high of $230.39. The stock has a market cap of $90.36 billion, a P/E ratio of 34.42, a P/E/G ratio of 2.40 and a beta of 0.74. The stock has a 50-day simple moving average of $215.17 and a 200-day simple moving average of $210.71.

Waste Management (NYSE:WM) last announced its quarterly 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 analyst estimates of $5.51 billion. During the same period in the prior year, the firm posted $1.63 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Argus raised their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group upped their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective 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. Finally, William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $228.94.

About Waste Management

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.