Sitrin Capital Management LLC Grows Stock Position in Waste Management, Inc. (NYSE:WM)

Sitrin Capital Management LLC boosted its position in Waste Management, Inc. (NYSE:WM) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,202 shares of the business services provider’s stock after buying an additional 301 shares during the period. Waste Management makes up about 3.3% of Sitrin Capital Management LLC’s holdings, making the stock its 12th biggest position. Sitrin Capital Management LLC’s holdings in Waste Management were worth $6,498,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WM. Geode Capital Management LLC boosted its holdings in Waste Management by 2.1% during the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after buying an additional 168,818 shares in the last quarter. Parnassus Investments LLC grew its holdings in shares of Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after acquiring an additional 520,096 shares during the period. Nordea Investment Management AB raised its holdings in Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock worth $854,446,000 after purchasing an additional 280,455 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Waste Management by 5.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,961,563 shares of the business services provider’s stock worth $597,614,000 after purchasing an additional 157,082 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Waste Management by 12.8% in the third quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock valued at $505,175,000 after buying an additional 276,287 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Up 0.4 %

Shares of Waste Management stock opened at $230.59 on Wednesday. The company has a fifty day moving average price of $214.22 and a 200 day moving average price of $213.47. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $232.44. The stock has a market cap of $92.72 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, March 14th. Waste Management’s payout ratio is presently 44.12%.

Insider Activity at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 4,576 shares of Waste Management stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the sale, the senior vice president now directly owns 58,765 shares in the company, valued at $13,052,881.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald J. Smith sold 191 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.22, for a total value of $42,062.02. Following the transaction, the vice president now owns 6,129 shares of the company’s stock, valued at approximately $1,349,728.38. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,192 shares of company stock valued at $15,025,861. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

WM has been the topic of several research reports. CIBC increased their price target on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Oppenheimer boosted their price target on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Truist Financial increased their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Raymond James raised their price target on shares of Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.94.

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.