Parthenon LLC Increases Stock Position in Waste Management, Inc. (NYSE:WM)

Parthenon LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,595 shares of the business services provider’s stock after purchasing an additional 95 shares during the quarter. Parthenon LLC’s holdings in Waste Management were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. abrdn plc grew its position in Waste Management by 315.7% during the third quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock valued at $222,165,000 after acquiring an additional 1,106,773 shares during the last quarter. Mirova US LLC grew its position in Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after acquiring an additional 910,418 shares during the last quarter. Nordea Investment Management AB grew its position in Waste Management by 16.9% during the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after acquiring an additional 776,491 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in Waste Management by 128.2% during the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock valued at $137,012,000 after acquiring an additional 504,924 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Waste Management by 13,927.7% during the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after acquiring an additional 500,701 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In other news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the transaction, the executive vice president now owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now directly owns 29,677 shares in the company, valued at approximately $6,217,331.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles C. Boettcher sold 3,275 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $199.49, for a total value of $653,329.75. Following the completion of the sale, the executive vice president now owns 36,403 shares of the company’s stock, valued at $7,262,034.47. The disclosure for this sale can be found here. Insiders sold a total of 18,007 shares of company stock valued at $3,696,520 in the last quarter. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

WM has been the topic of a number of recent research reports. Truist Financial increased their price target on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets increased their price target on shares of Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research report on Friday. TD Cowen raised their target price on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. Finally, Raymond James raised their target price on shares of Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a report on Friday. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.24.

Waste Management Trading Down 2.0 %

WM stock traded down $4.14 on Tuesday, reaching $208.01. The company’s stock had a trading volume of 2,243,871 shares, compared to its average volume of 1,682,581. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The firm has a market cap of $83.43 billion, a PE ratio of 34.04, a PEG ratio of 2.81 and a beta of 0.72. The business has a fifty day simple moving average of $208.88 and a two-hundred day simple moving average of $188.04. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 earnings per share. As a group, research analysts forecast that Waste Management, Inc. will post 7.09 EPS for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is currently 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.