Waste Management, Inc. (NYSE:WM) Shares Purchased by Perpetual Ltd

Perpetual Ltd grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,910 shares of the business services provider’s stock after purchasing an additional 3,831 shares during the quarter. Perpetual Ltd’s holdings in Waste Management were worth $13,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of WM. Geode Capital Management LLC grew its stake in Waste Management by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after buying an additional 168,818 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after acquiring an additional 520,096 shares during the period. Ameriprise Financial Inc. grew its position in shares of Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after acquiring an additional 12,664 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after acquiring an additional 280,455 shares during the period. Finally, Legal & General Group Plc raised its position in Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WM. Royal Bank of Canada lifted their price objective 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. BMO Capital Markets boosted their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their target price on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, CIBC increased their price target on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Ten investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $211.79 on Tuesday. Waste Management, Inc. has a 12 month low of $181.56 and a 12 month high of $230.39. The firm has a market capitalization of $85.01 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. The business’s 50 day simple moving average is $213.80 and its 200-day simple moving average is $211.26. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share 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%. Waste Management’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, equities analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

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.