Lebenthal Global Advisors LLC Invests $943,000 in Waste Management, Inc. (NYSE:WM)

Lebenthal Global Advisors LLC purchased a new position in Waste Management, Inc. (NYSE:WM) in the third quarter, Holdings Channel.com reports. The firm purchased 4,544 shares of the business services provider’s stock, valued at approximately $943,000.

Other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management during the second quarter valued at approximately $31,000. Fairway Wealth LLC lifted its holdings in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter worth $36,000. Fairscale Capital LLC purchased a new position in shares of Waste Management in the 2nd quarter worth $39,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after buying an additional 80 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 0.5 %

NYSE:WM traded up $1.03 during mid-day trading on Friday, hitting $216.88. The stock had a trading volume of 127,337 shares, compared to its average volume of 1,615,679. The stock has a 50-day simple moving average of $209.26 and a two-hundred day simple moving average of $208.77. The company has a market capitalization of $87.05 billion, a PE ratio of 33.00, a PEG ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $162.34 and a twelve month high of $225.00. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00.

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, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday. Truist Financial lifted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley lifted their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $226.05.

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.