Diversified Trust Co Increases Stake in Waste Management, Inc. (NYSE:WM)

Diversified Trust Co lifted its stake in Waste Management, Inc. (NYSE:WM) by 40.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,031 shares of the business services provider’s stock after buying an additional 2,016 shares during the quarter. Diversified Trust Co’s holdings in Waste Management were worth $1,460,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sustainable Growth Advisers LP purchased a new stake in Waste Management during the first quarter valued at $300,594,000. Capital World Investors raised its position in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Swedbank AB bought a new position in shares of Waste Management in the 1st quarter valued at about $193,955,000. Wulff Hansen & CO. increased its stake in Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after acquiring an additional 863,846 shares during the last quarter. Finally, AMF Tjanstepension AB raised its position in Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’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 value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. William Blair assumed coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada reduced their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Oppenheimer dropped their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Truist Financial decreased their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, CIBC cut their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Price Performance

NYSE WM opened at $208.68 on Wednesday. The company has a market cap of $83.75 billion, a PE ratio of 34.15, a P/E/G ratio of 2.33 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. 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 firm’s 50 day moving average price is $206.84 and its 200-day moving average price is $208.45.

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 for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.51 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is currently 49.10%.

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.