Waste Management, Inc. (NYSE:WM) Shares Purchased by City Holding Co.

City Holding Co. raised its stake in Waste Management, Inc. (NYSE:WM) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 48,854 shares of the business services provider’s stock after purchasing an additional 454 shares during the period. Waste Management comprises 1.4% of City Holding Co.’s portfolio, making the stock its 13th largest holding. City Holding Co.’s holdings in Waste Management were worth $9,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Activest Wealth Management raised its stake in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. purchased a new position in Waste Management in the 4th quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Waste Management during the 2nd quarter worth $36,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Waste Management in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.4 %

Shares of Waste Management stock opened at $211.79 on Monday. Waste Management, Inc. has a fifty-two week low of $181.56 and a fifty-two week high of $230.39. The business’s fifty day moving average is $213.80 and its two-hundred day moving average is $211.25. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm has a market cap of $85.01 billion, a PE ratio of 32.38, a P/E/G ratio of 2.10 and a beta of 0.77.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. Analysts anticipate that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

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

Insider Buying and Selling

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. CIBC increased their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial upped 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. Morgan Stanley boosted their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Ten 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. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $230.72.

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.