Geneva Partners LLC Buys 51 Shares of Waste Management, Inc. (NYSE:WM)

Geneva Partners LLC lifted its stake in Waste Management, Inc. (NYSE:WM) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,221 shares of the business services provider’s stock after acquiring an additional 51 shares during the period. Geneva Partners LLC’s holdings in Waste Management were worth $461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management in the second quarter worth $31,000. Fairway Wealth LLC boosted its holdings in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. Fairscale Capital LLC acquired a new stake in shares of Waste Management in the second quarter valued at about $39,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management in the second quarter worth about $36,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after purchasing an additional 80 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of NYSE:WM opened at $214.24 on Tuesday. The business has a fifty day moving average of $209.44 and a 200-day moving average of $208.94. The firm has a market cap of $85.99 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.26 and a beta of 0.74. 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 twelve month low of $167.78 and a twelve month high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly 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. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Analysts Set New Price Targets

WM has been the topic of several recent analyst reports. William Blair began coverage on Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer boosted their target price on shares of Waste Management from $224.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial raised 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. Finally, Royal Bank of Canada upped their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.05.

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.