Lebenthal Global Advisors LLC raised its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 16.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,278 shares of the business services provider’s stock after purchasing an additional 734 shares during the period. Lebenthal Global Advisors LLC’s holdings in Waste Management were worth $1,065,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in WM. Aberdeen Wealth Management LLC increased its position in Waste Management by 1.1% during the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after buying an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in shares of Waste Management by 3.9% during 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. Benchmark Financial Wealth Advisors LLC raised its position in shares of Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares during the last quarter. Balboa Wealth Partners grew its position in Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 49 shares during the last quarter. Finally, Werlinich Asset Management LLC raised its holdings in Waste Management by 1.2% in the third quarter. Werlinich Asset Management LLC now owns 4,385 shares of the business services provider’s stock worth $910,000 after buying an additional 50 shares during the last quarter. 80.40% of the stock is owned by institutional investors.
Insider Transactions at Waste Management
In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.
Waste Management Price Performance
Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current year.
Waste Management Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management’s payout ratio is currently 45.87%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group upped their price target on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Finally, Truist Financial raised 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. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.39.
Check Out Our Latest Report on Waste Management
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.
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