Pineridge Advisors LLC Purchases Shares of 173 Waste Management, Inc. (NYSE:WM)

Pineridge Advisors LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 173 shares of the business services provider’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in Waste Management by 94,414.4% in 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 acquiring an additional 2,588,842 shares during the period. Swedbank AB grew its holdings 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 valued at $366,537,000 after buying an additional 709,678 shares during the period. Parnassus Investments LLC lifted its holdings in shares of Waste Management by 11.3% during 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 acquiring an additional 520,096 shares during the period. Diamond Hill Capital Management Inc. increased its position in Waste Management by 32.1% during the third 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 during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Waste Management by 138.0% during the 3rd quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock valued at $149,168,000 after buying an additional 416,579 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Jefferies Financial Group lowered their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. 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 research note on Wednesday, October 30th. Citigroup boosted their price objective on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. StockNews.com lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.50.

Waste Management Price Performance

Shares of NYSE WM opened at $225.95 on Tuesday. The company has a market capitalization of $90.69 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The business has a 50 day simple moving average of $211.84 and a 200-day simple moving average of $211.35. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a twelve month low of $187.48 and a twelve month high of $230.39.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. Waste Management’s payout ratio is currently 44.12%.

Insider Buying and Selling at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 4,576 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the completion of the transaction, the senior vice president now owns 58,765 shares in the company, valued at approximately $13,052,881.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rafael Carrasco sold 4,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $225.89, for a total value of $903,560.00. Following the transaction, the senior vice president now directly owns 18,531 shares in the company, valued at $4,185,967.59. This trade represents a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,055 shares of company stock worth $3,578,340. 0.18% of the stock is owned by 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.