InTrack Investment Management Inc Purchases Shares of 3,846 Waste Management, Inc. (NYSE:WM)

InTrack Investment Management Inc acquired a new stake in Waste Management, Inc. (NYSE:WMFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,846 shares of the business services provider’s stock, valued at approximately $797,000.

A number of other institutional investors also recently modified their holdings of WM. International Assets Investment Management LLC boosted its position in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares in the last quarter. Swedbank AB increased its stake in shares of Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Parnassus Investments LLC lifted its position in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after acquiring an additional 520,096 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Waste Management by 32.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock worth $374,062,000 after purchasing an additional 437,613 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Waste Management by 138.0% during the third quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock valued at $149,168,000 after purchasing an additional 416,579 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’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 completion of the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

WM opened at $211.79 on Friday. The company has a 50 day simple moving average of $214.05 and a two-hundred day simple moving average of $211.22. 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 market cap of $85.01 billion, a P/E ratio of 32.38, a PEG ratio of 2.10 and a beta of 0.77. Waste Management, Inc. has a 1-year low of $181.56 and a 1-year high of $230.39.

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

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WM shares. Stifel Nicolaus lifted their price target on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. 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 report on Wednesday, October 30th. William Blair began coverage on Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. UBS Group boosted their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Ten equities research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

Check Out Our Latest Stock Analysis on WM

Waste Management Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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