Newbridge Financial Services Group Inc. Has $539,000 Position in Waste Management, Inc. (NYSE:WM)

Newbridge Financial Services Group Inc. boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 333.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,526 shares of the business services provider’s stock after purchasing an additional 1,943 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Waste Management were worth $539,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. NEOS Investment Management LLC lifted its holdings in Waste Management by 38.9% during the 4th quarter. NEOS Investment Management LLC now owns 5,181 shares of the business services provider’s stock worth $928,000 after purchasing an additional 1,452 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Waste Management by 4.9% during the fourth quarter. Rafferty Asset Management LLC now owns 30,746 shares of the business services provider’s stock worth $5,507,000 after buying an additional 1,431 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Waste Management by 3.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84,273 shares of the business services provider’s stock valued at $15,093,000 after acquiring an additional 2,505 shares during the period. Edge Capital Group LLC increased its position in Waste Management by 6.2% during the fourth quarter. Edge Capital Group LLC now owns 5,706 shares of the business services provider’s stock worth $1,022,000 after acquiring an additional 331 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new stake in Waste Management in the 4th quarter worth about $345,000. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’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 of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Waste Management Trading Up 0.2 %

Shares of WM stock opened at $207.92 on Wednesday. The company has a market cap of $83.44 billion, a P/E ratio of 34.03, a PEG ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The stock has a 50 day simple moving average of $206.54 and a two-hundred day simple moving average of $208.58. 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 quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WM shares. Truist Financial dropped their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. 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. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Royal Bank of Canada decreased their price objective 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. Finally, BMO Capital Markets decreased their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.83.

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.