abrdn plc Has $109.36 Million Stock Holdings in Waste Management, Inc. (NYSE:WM)

abrdn plc lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 543,365 shares of the business services provider’s stock after selling 26,474 shares during the quarter. abrdn plc’s holdings in Waste Management were worth $109,363,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of WM. International Assets Investment Management LLC lifted its stake in shares of Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares during the last quarter. Swedbank AB raised its stake in Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares in the last quarter. Parnassus Investments LLC raised its stake in Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in Waste Management by 32.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock worth $374,062,000 after purchasing an additional 437,613 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Waste Management by 138.0% in the 3rd quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock worth $149,168,000 after purchasing an additional 416,579 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on WM shares. Royal Bank of Canada lifted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Friday. Truist Financial raised their target price 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. BMO Capital Markets raised their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their target price on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.50.

Insider Transactions at Waste Management

In other news, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now owns 9,066 shares in the company, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Johnson Varkey sold 560 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.11, for a total transaction of $123,261.60. Following the completion of the transaction, the senior vice president now owns 9,152 shares in the company, valued at $2,014,446.72. This trade represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,653 shares of company stock worth $364,287. Company insiders own 0.18% of the company’s stock.

Waste Management Trading Up 1.6 %

WM opened at $223.89 on Tuesday. Waste Management, Inc. has a fifty-two week low of $187.20 and a fifty-two week high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market capitalization of $89.86 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.57 and a beta of 0.78. The company’s 50 day moving average price is $212.19 and its two-hundred day moving average price is $211.24.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. As a group, research analysts predict that Waste Management, Inc. will post 7.92 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is 44.12%.

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.