MQS Management LLC Invests $1.14 Million in Waste Management, Inc. (NYSE:WM)

MQS Management LLC purchased a new position in Waste Management, Inc. (NYSE:WM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,327 shares of the business services provider’s stock, valued at approximately $1,136,000. Waste Management accounts for about 0.7% of MQS Management LLC’s investment portfolio, making the stock its 5th largest position.

A number of other institutional investors have also added to or reduced their stakes in WM. ARS Wealth Advisors Group LLC increased its position in shares of Waste Management by 3.1% during the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the last quarter. McClarren Financial Advisors Inc. raised its stake in shares of Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 49 shares during the period. Mayflower Financial Advisors LLC lifted its holdings in shares of Waste Management by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after acquiring an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX boosted its stake in shares of Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after purchasing an additional 50 shares during the period. Finally, GYL Financial Synergies LLC grew its holdings in Waste Management by 3.8% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets cut their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. CIBC decreased their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Stock Down 0.6 %

NYSE:WM opened at $201.85 on Thursday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a market capitalization of $81.01 billion, a P/E ratio of 33.04, a P/E/G ratio of 2.33 and a beta of 0.74. The company’s 50-day simple moving average is $208.87 and its 200-day simple moving average is $208.73. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company earned $1.51 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. Waste Management’s payout ratio is 49.10%.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

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.