Magnus Financial Group LLC Boosts Holdings in Waste Management, Inc. (NYSE:WM)

Magnus Financial Group LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,552 shares of the business services provider’s stock after buying an additional 332 shares during the quarter. Magnus Financial Group LLC’s holdings in Waste Management were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WM. Activest Wealth Management raised its position in Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Global Wealth Strategies & Associates raised its holdings in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. General Partner Inc. acquired a new position in Waste Management in the fourth quarter valued at about $29,000. Sugar Maple Asset Management LLC purchased a new position in Waste Management during the fourth quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management during the second quarter valued at about $36,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM opened at $211.57 on Thursday. The company’s 50 day simple moving average is $213.33 and its 200-day simple moving average is $211.29. Waste Management, Inc. has a 12-month low of $183.00 and a 12-month high of $230.39. The firm has a market cap of $84.92 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

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

Waste Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WM shares. Argus increased their price objective on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank assumed 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. Stifel Nicolaus raised their price objective on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Oppenheimer increased their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Ten 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 stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $230.72.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the company’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 sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

About Waste Management

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.