Oppenheimer Asset Management Inc. Acquires 358 Shares of Waste Management, Inc. (NYSE:WM)

Oppenheimer Asset Management Inc. raised its holdings in Waste Management, Inc. (NYSE:WM) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,266 shares of the business services provider’s stock after buying an additional 358 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Waste Management were worth $1,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its stake in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management in the 2nd quarter valued at about $31,000. Sachetta LLC bought a new stake in Waste Management in the 4th quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new position in Waste Management during the 1st quarter worth approximately $35,000. Finally, DSM Capital Partners LLC bought a new position in Waste Management in the fourth quarter worth approximately $38,000. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price on the stock. Truist Financial dropped their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. BMO Capital Markets cut their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Finally, Robert W. Baird lowered their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Stock Performance

Shares of WM stock opened at $201.85 on Thursday. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00. The firm’s 50-day simple moving average is $208.87 and its two-hundred day simple moving average is $208.73. The firm has a market cap of $81.01 billion, a price-to-earnings ratio of 33.04, a P/E/G ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. Waste Management’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. As a group, equities analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

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

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the company’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 directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.