Waste Management, Inc. (NYSE:WM) Shares Purchased by Grove Bank & Trust

Grove Bank & Trust raised its stake in Waste Management, Inc. (NYSE:WM) by 6.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,278 shares of the business services provider’s stock after buying an additional 78 shares during the quarter. Grove Bank & Trust’s holdings in Waste Management were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Capital World Investors increased its position in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after buying an additional 243,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Waste Management by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares in the last quarter. Finally, AMF Tjanstepension AB increased its holdings in Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after acquiring an additional 720,358 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of NYSE WM opened at $213.50 on Tuesday. The company has a market capitalization of $85.68 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.36 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a 1-year low of $153.95 and a 1-year high of $225.00. The business has a 50-day moving average of $207.60 and a 200-day moving average of $208.42.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 earnings per share. On average, equities analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 47.69%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WM shares. Scotiabank began coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. Truist Financial reduced their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. BMO Capital Markets cut their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. CIBC reduced their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, William Blair assumed coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

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.