BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 217,359 Shares of Waste Management, Inc. (NYSE:WM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 54.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,678 shares of the business services provider’s stock after purchasing an additional 217,359 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Waste Management were worth $128,230,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

WM has been the subject of several analyst reports. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank initiated coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. 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 report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Eleven 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $226.11.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the 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 completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Waste Management Stock Down 0.1 %

Waste Management stock opened at $218.78 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm’s fifty day moving average price is $212.24 and its two-hundred day moving average price is $209.92. The firm has a market capitalization of $87.81 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.84.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping 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 firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 7.32 earnings per share 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. Stockholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. Waste Management’s payout ratio is 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.