Insight Wealth Strategies LLC Boosts Stake in Waste Management, Inc. (NYSE:WM)

Insight Wealth Strategies LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,249 shares of the business services provider’s stock after purchasing an additional 232 shares during the period. Insight Wealth Strategies LLC’s holdings in Waste Management were worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WM. Hexagon Capital Partners LLC grew its position in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management during the second quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management during the first quarter worth about $35,000. Fairway Wealth LLC raised its stake in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock traded up $2.62 during trading hours on Tuesday, reaching $208.03. 36,572 shares of the stock were exchanged, compared to its average volume of 1,646,320. The firm’s 50 day moving average is $206.74 and its 200 day moving average is $208.50. 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 cap of $83.44 billion, a P/E ratio of 33.62, a P/E/G ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $153.95 and a 52-week high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 EPS. Analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. 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 firm’s stock in a transaction dated 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 of the company’s stock, valued at $9,711,680. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WM. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Truist Financial lowered 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 lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Royal Bank of Canada lowered their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

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.