Fairscale Capital LLC Invests $39,000 in Waste Management, Inc. (NYSE:WM)

Fairscale Capital LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 176 shares of the business services provider’s stock, valued at approximately $39,000.

Several other institutional investors have also added to or reduced their stakes in WM. Itau Unibanco Holding S.A. acquired a new position in shares of Waste Management during the 2nd quarter worth approximately $79,000. 1832 Asset Management L.P. grew its position in Waste Management by 40.0% during the second quarter. 1832 Asset Management L.P. now owns 29,584 shares of the business services provider’s stock worth $6,311,000 after buying an additional 8,448 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in Waste Management by 53,520.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,043 shares of the business services provider’s stock worth $1,716,000 after acquiring an additional 8,028 shares during the period. Holderness Investments Co. raised its holdings in Waste Management by 3.1% in the 2nd quarter. Holderness Investments Co. now owns 2,015 shares of the business services provider’s stock valued at $430,000 after acquiring an additional 61 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Waste Management by 9.8% during the 2nd quarter. ProShare Advisors LLC now owns 51,214 shares of the business services provider’s stock valued at $10,926,000 after acquiring an additional 4,554 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WM. Robert W. Baird dropped their price target 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. Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Oppenheimer decreased their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Trading Down 0.3 %

Shares of NYSE WM opened at $204.10 on Monday. The firm has a 50 day moving average price of $208.53 and a two-hundred day moving average price of $208.70. The stock has a market cap of $81.86 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. 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 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 return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the company earned $1.51 EPS. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management’s payout ratio is presently 49.10%.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now directly 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 is available at the SEC website. Company insiders own 0.18% of the company’s stock.

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.