Waste Management, Inc. (NYSE:WM) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,561 shares of the business services provider’s stock after acquiring an additional 510 shares during the period. Empowered Funds LLC’s holdings in Waste Management were worth $1,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in WM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management during the 2nd quarter worth approximately $31,000. Fairway Wealth LLC increased its position in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Waste Management during the second quarter worth $36,000. Fairscale Capital LLC purchased a new position in Waste Management during the 2nd quarter valued at about $39,000. Finally, Hexagon Capital Partners LLC lifted its holdings in Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after buying an additional 80 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Stock Up 1.3 %

Shares of NYSE WM opened at $221.53 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $88.92 billion, a PE ratio of 33.87, a P/E/G ratio of 2.30 and a beta of 0.74. The firm has a fifty day moving average of $212.52 and a 200-day moving average of $210.00. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $226.84.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. During the same period in the prior year, the firm posted $1.63 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WM. Truist Financial lifted 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. UBS Group lifted their target price on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Finally, Oppenheimer raised their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Waste Management 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.