Simon Quick Advisors LLC Raises Holdings in Waste Management, Inc. (NYSE:WM)

Simon Quick Advisors LLC raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 58.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,844 shares of the business services provider’s stock after buying an additional 680 shares during the quarter. Simon Quick Advisors LLC’s holdings in Waste Management were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WM. Thrivent Financial for Lutherans raised its stake in Waste Management by 6.0% in the 2nd 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 last quarter. Public Sector Pension Investment Board raised its position in shares of Waste Management by 167.1% in the second quarter. Public Sector Pension Investment Board now owns 9,235 shares of the business services provider’s stock valued at $1,970,000 after buying an additional 5,777 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Waste Management by 7.5% during the second quarter. Evergreen Capital Management LLC now owns 3,366 shares of the business services provider’s stock worth $718,000 after acquiring an additional 235 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in Waste Management by 13.2% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,361 shares of the business services provider’s stock worth $677,000 after acquiring an additional 391 shares during the period. Finally, AlTi Global Inc. lifted its stake in shares of Waste Management by 35.6% during the 2nd quarter. AlTi Global Inc. now owns 1,802 shares of the business services provider’s stock worth $384,000 after purchasing an additional 473 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Oppenheimer upped their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. William Blair assumed coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada raised 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. Jefferies Financial Group cut their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets upped their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.72.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $209.96 on Friday. Waste Management, Inc. has a 1-year low of $183.00 and a 1-year high of $230.39. The stock has a market cap of $84.27 billion, a P/E ratio of 32.10, a PEG ratio of 2.18 and a beta of 0.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a 50-day moving average of $213.04 and a two-hundred day moving average of $211.29.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. On average, research analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

Waste Management Company 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.