GAMMA Investing LLC Has $1.39 Million Stock Position in Waste Management, Inc. (NYSE:WM)

GAMMA Investing LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 23.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,686 shares of the business services provider’s stock after purchasing an additional 1,286 shares during the quarter. GAMMA Investing LLC’s holdings in Waste Management were worth $1,388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Hexagon Capital Partners LLC lifted its stake in Waste Management by 170.5% in the 1st 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 last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management in the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC bought a new position in shares of Waste Management during the 1st quarter worth approximately $35,000. Fairway Wealth LLC raised its stake in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $205.41 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $82.39 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $153.95 and a twelve month high of $225.00. The stock’s 50-day simple moving average is $206.74 and its 200 day simple moving average is $208.50.

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, hitting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued 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 1.46%. Waste Management’s payout ratio is presently 49.10%.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 1st. Erste Group Bank restated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Oppenheimer lowered their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. CIBC reduced their price target 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. Finally, Robert W. Baird dropped their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.