Pacer Advisors Inc. Raises Holdings in Waste Management, Inc. (NYSE:WM)

Pacer Advisors Inc. increased its position in Waste Management, Inc. (NYSE:WM) by 93.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,613 shares of the business services provider’s stock after purchasing an additional 22,455 shares during the period. Pacer Advisors Inc.’s holdings in Waste Management were worth $8,348,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WM. Indiana Trust & Investment Management CO acquired a new stake in shares of Waste Management in the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Waste Management during the 1st quarter worth $29,000. KB Financial Partners LLC acquired a new position in Waste Management in the first quarter valued at $33,000. State of Wyoming acquired a new stake in shares of Waste Management during the fourth quarter worth about $34,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Waste Management during the third quarter worth about $35,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on WM. Truist Financial increased their price objective on Waste Management from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Oppenheimer boosted their price objective on shares of Waste Management from $188.00 to $212.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Erste Group Bank upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. BMO Capital Markets boosted their price target on shares of Waste Management from $184.00 to $196.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. Finally, HSBC lowered Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price objective on the stock. in a report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.47.

Waste Management Stock Up 1.0 %

WM opened at $213.97 on Thursday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.86 and a current ratio of 0.90. The company has a market cap of $85.93 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 3.21 and a beta of 0.72. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.02. The business’s fifty day moving average is $199.41 and its two-hundred day moving average is $178.87.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, February 12th. The business services provider reported $1.74 EPS for the quarter, topping the consensus estimate of $1.53 by $0.21. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the firm earned $1.30 EPS. Analysts anticipate that Waste Management, Inc. will post 6.88 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be given a dividend of $0.75 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, March 14th. Waste Management’s payout ratio is currently 53.00%.

Insider Activity at Waste Management

In other news, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction on 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 directly owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP John J. Morris sold 8,889 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the sale, the executive vice president now owns 95,461 shares in the company, valued at $19,804,339.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were 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 $6,217,331.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,242 shares of company stock valued at $5,929,355. 0.27% of the stock is owned by corporate insiders.

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.