Mutual Advisors LLC Has $2.28 Million Stake in Waste Management, Inc. (NYSE:WM)

Mutual Advisors LLC raised its position in Waste Management, Inc. (NYSE:WM) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,927 shares of the business services provider’s stock after acquiring an additional 226 shares during the quarter. Mutual Advisors LLC’s holdings in Waste Management were worth $2,283,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FORVIS Wealth Advisors LLC lifted its holdings in Waste Management by 59.2% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 7,009 shares of the business services provider’s stock valued at $1,494,000 after purchasing an additional 2,606 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Waste Management during the 1st quarter worth about $418,000. J.W. Cole Advisors Inc. boosted its holdings in shares of Waste Management by 3.9% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,676 shares of the business services provider’s stock worth $997,000 after buying an additional 176 shares during the period. Diversify Advisory Services LLC acquired a new position in Waste Management in the 1st quarter valued at about $1,827,000. Finally, Mission Wealth Management LP acquired a new stake in Waste Management during the first quarter worth approximately $280,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WM has been the topic of a number of recent research reports. William Blair assumed coverage on Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada lifted their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday. Morgan Stanley upped their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets increased their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.05.

Waste Management Price Performance

Shares of WM stock opened at $215.85 on Friday. Waste Management, Inc. has a twelve month low of $162.03 and a twelve month high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The business has a fifty day simple moving average of $209.26 and a 200 day simple moving average of $208.77. The company has a market cap of $86.62 billion, a P/E ratio of 33.00, a P/E/G ratio of 2.29 and a beta of 0.74.

Waste Management (NYSE:WM) last posted 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. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.39%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

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.