Waste Management, Inc. (NYSE:WM) Holdings Boosted by Purus Wealth Management LLC

Purus Wealth Management LLC raised its holdings in Waste Management, Inc. (NYSE:WM) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,178 shares of the business services provider’s stock after acquiring an additional 732 shares during the period. Waste Management makes up approximately 3.3% of Purus Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. Purus Wealth Management LLC’s holdings in Waste Management were worth $8,309,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in shares of Waste Management by 24.2% during the 2nd quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider’s stock worth $14,427,000 after purchasing an additional 13,193 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of Waste Management by 39.5% in the second quarter. AE Wealth Management LLC now owns 37,151 shares of the business services provider’s stock valued at $7,926,000 after acquiring an additional 10,529 shares in the last quarter. Sei Investments Co. boosted its holdings in Waste Management by 20.1% in the second quarter. Sei Investments Co. now owns 225,389 shares of the business services provider’s stock valued at $48,085,000 after purchasing an additional 37,754 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Waste Management by 6.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 49,025 shares of the business services provider’s stock valued at $10,459,000 after buying an additional 2,760 shares during the period. Finally, Summit Trail Advisors LLC grew its position in shares of Waste Management by 11.3% during the second quarter. Summit Trail Advisors LLC now owns 6,229 shares of the business services provider’s stock worth $1,329,000 after buying an additional 630 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM opened at $211.79 on Monday. The business has a 50-day moving average of $213.80 and a two-hundred day moving average of $211.25. The firm has a market capitalization of $85.01 billion, a PE ratio of 32.38, a P/E/G ratio of 2.10 and a beta of 0.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 12 month low of $181.56 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $1.63 EPS. The company’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. BMO Capital Markets increased their price objective on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their target price on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Morgan Stanley increased their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

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.