Payden & Rygel Boosts Position in Waste Management, Inc. (NYSE:WM)

Payden & Rygel lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 41.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,500 shares of the business services provider’s stock after acquiring an additional 1,900 shares during the period. Payden & Rygel’s holdings in Waste Management were worth $1,349,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WM. Aberdeen Wealth Management LLC grew its position in shares of Waste Management by 1.1% in the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its position in Waste Management by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after buying an additional 46 shares in the last quarter. ARS Wealth Advisors Group LLC raised its holdings in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after acquiring an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC lifted its position in shares of Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after acquiring an additional 49 shares in the last quarter. Finally, Balboa Wealth Partners boosted its stake in shares of Waste Management by 4.1% during the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 49 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on WM shares. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. CIBC raised their target price on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Truist Financial raised their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a 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 research 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 stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.11.

Waste Management Stock Down 0.1 %

Shares of Waste Management stock opened at $218.78 on Thursday. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84. The stock has a market cap 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. 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 company has a fifty day moving average price of $212.24 and a 200 day moving average price of $209.92.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during 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%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. Equities research analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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 is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.