Concurrent Investment Advisors LLC Acquires 265 Shares of Waste Management, Inc. (NYSE:WM)

Concurrent Investment Advisors LLC increased its holdings in Waste Management, Inc. (NYSE:WM) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,246 shares of the business services provider’s stock after purchasing an additional 265 shares during the period. Concurrent Investment Advisors LLC’s holdings in Waste Management were worth $4,085,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Aberdeen Wealth Management LLC lifted its holdings in shares of Waste Management by 1.1% during the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after acquiring an additional 45 shares during the period. Signature Estate & Investment Advisors LLC raised its position in Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after purchasing an additional 46 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Waste Management by 2.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider’s stock worth $411,000 after purchasing an additional 48 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its holdings in Waste Management by 1.9% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares in the last quarter. Finally, Balboa Wealth Partners grew its stake in shares of Waste Management by 4.1% in the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 49 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

Waste Management stock opened at $229.07 on Friday. The business’s 50-day simple moving average is $213.14 and its 200 day simple moving average is $212.81. 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 stock has a market cap of $91.94 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 2.74 and a beta of 0.78. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $230.39.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is currently 44.12%.

Analyst Ratings Changes

Several research firms recently commented on WM. Royal Bank of Canada raised their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Argus boosted their target price on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial increased their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James boosted their price target on shares of Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Citigroup raised their price objective on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $235.94.

Insider Buying and Selling at Waste Management

In related news, SVP Johnson Varkey sold 560 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now directly owns 9,152 shares in the company, valued at $2,014,446.72. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $46,094.95. Following the transaction, the chief accounting officer now owns 9,066 shares of the company’s stock, valued at approximately $1,999,506.30. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,055 shares of company stock worth $3,578,340. Insiders own 0.18% of the company’s stock.

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.