Carolinas Wealth Consulting LLC Purchases 251 Shares of Waste Management, Inc. (NYSE:WM)

Carolinas Wealth Consulting LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 30.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,082 shares of the business services provider’s stock after purchasing an additional 251 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Waste Management were worth $231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WM. Sustainable Growth Advisers LP bought a new stake in Waste Management in the first quarter valued at about $300,594,000. Capital World Investors increased its holdings in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Swedbank AB bought a new stake in Waste Management in the first quarter valued at about $193,955,000. Wulff Hansen & CO. increased its holdings in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the last quarter. Finally, AMF Tjanstepension AB increased its holdings in Waste Management by 85.6% in 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 last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WM. 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 note on Friday, July 26th. Royal Bank of Canada decreased their target price on 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. Robert W. Baird decreased their target price 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 decreased their target price on 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, Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Insider Buying and Selling at Waste Management

In other Waste Management 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 transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE WM opened at $201.85 on Thursday. The stock has a 50 day moving average price of $208.87 and a 200 day moving average price of $208.73. 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. The stock has a market capitalization of $81.01 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data 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. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm posted $1.51 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business 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 $0.75 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Waste Management’s dividend payout ratio is currently 49.10%.

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.