Quarry LP Grows Holdings in Waste Management, Inc. (NYSE:WM)

Quarry LP grew its stake in Waste Management, Inc. (NYSE:WM) by 209.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 683 shares of the business services provider’s stock after buying an additional 462 shares during the period. Quarry LP’s holdings in Waste Management were worth $146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in Waste Management by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after buying an additional 48,549 shares in the last quarter. Pinkerton Retirement Specialists LLC grew its stake in Waste Management by 18.6% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after buying an additional 3,145 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Waste Management by 8.8% in the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock worth $161,000 after buying an additional 61 shares in the last quarter. Logan Capital Management Inc. lifted its holdings in shares of Waste Management by 39.0% in the 4th quarter. Logan Capital Management Inc. now owns 4,258 shares of the business services provider’s stock worth $763,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Alaska Permanent Fund Corp lifted its holdings in shares of Waste Management by 240.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 24,383 shares of the business services provider’s stock worth $5,197,000 after acquiring an additional 17,225 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WM. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada lowered their price objective 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. Robert W. Baird lowered their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Stock Up 1.0 %

Shares of NYSE WM opened at $207.52 on Tuesday. The firm has a fifty day simple moving average of $206.76 and a two-hundred day simple moving average of $208.60. The firm has a market capitalization of $83.28 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion for 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 company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.51 EPS. Equities analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is presently 49.10%.

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.