Waste Management, Inc. (NYSE:WM) Shares Purchased by Archer Investment Corp

Archer Investment Corp grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,158 shares of the business services provider’s stock after purchasing an additional 75 shares during the quarter. Archer Investment Corp’s holdings in Waste Management were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WM. Empowered Funds LLC lifted its holdings in Waste Management by 7.2% in the third quarter. Empowered Funds LLC now owns 7,561 shares of the business services provider’s stock worth $1,570,000 after purchasing an additional 510 shares during the period. Empirical Finance LLC lifted its stake in shares of Waste Management by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 12,868 shares of the business services provider’s stock worth $2,671,000 after acquiring an additional 251 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 46 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Waste Management by 3.9% during the third quarter. CIBC Asset Management Inc now owns 88,203 shares of the business services provider’s stock valued at $18,302,000 after acquiring an additional 3,309 shares during the period. Finally, Balboa Wealth Partners lifted its position in Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after purchasing an additional 49 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research reports. Argus boosted their price objective on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, CIBC lifted their price target 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. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Insider Activity at Waste Management

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 transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

Waste Management Trading Down 1.7 %

NYSE:WM opened at $217.89 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market capitalization of $87.45 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.38 and a beta of 0.74. The stock’s 50 day moving average price is $211.61 and its 200 day moving average price is $209.67. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $226.84.

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

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

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.