Syntax Research Inc. Grows Stake in Waste Management, Inc. (NYSE:WM)

Syntax Research Inc. increased its holdings in Waste Management, Inc. (NYSE:WM) by 502.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,086 shares of the business services provider’s stock after purchasing an additional 10,081 shares during the period. Waste Management accounts for 1.7% of Syntax Research Inc.’s holdings, making the stock its 26th biggest holding. Syntax Research Inc.’s holdings in Waste Management were worth $2,509,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WM. Trium Capital LLP increased its holdings in shares of Waste Management by 33.6% in the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after purchasing an additional 3,029 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Waste Management by 77.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after acquiring an additional 5,367 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Waste Management by 417.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after acquiring an additional 2,800 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Waste Management by 32.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock valued at $374,062,000 after acquiring an additional 437,613 shares during the last quarter. Finally, Swedbank AB increased its position in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Down 1.3 %

NYSE WM opened at $208.92 on Wednesday. The firm has a market cap of $83.85 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. Waste Management, Inc. has a 52 week low of $175.01 and a 52 week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The company has a 50 day moving average price of $217.79 and a 200 day moving average price of $211.51.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on WM. JPMorgan Chase & Co. boosted their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

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.