Galvin Gaustad & Stein LLC Has $17.01 Million Position in Waste Management, Inc. (NYSE:WM)

Galvin Gaustad & Stein LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 9.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,272 shares of the business services provider’s stock after selling 8,844 shares during the period. Waste Management accounts for about 1.5% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 27th largest position. Galvin Gaustad & Stein LLC’s holdings in Waste Management were worth $17,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of WM. Activest Wealth Management increased its stake in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. bought a new stake in Waste Management during the 4th quarter valued at $29,000. Sugar Maple Asset Management LLC bought a new stake in Waste Management during the 4th quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought 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.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WM. BMO Capital Markets boosted their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. UBS Group upped their target price on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 4th. Truist Financial upped their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Price Performance

NYSE WM opened at $211.46 on Thursday. The company has a market cap of $84.87 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. Waste Management, Inc. has a 52 week low of $183.00 and a 52 week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm’s 50-day simple moving average is $213.04 and its two-hundred day simple moving average is $211.29.

Waste Management (NYSE:WM) last released its quarterly earnings data 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. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. Research analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. 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 45.87%.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

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.