MONECO Advisors LLC Boosts Position in Waste Management, Inc. (NYSE:WM)

MONECO Advisors LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,758 shares of the business services provider’s stock after acquiring an additional 245 shares during the period. MONECO Advisors LLC’s holdings in Waste Management were worth $988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management during the 2nd quarter valued at about $31,000. Fairway Wealth LLC raised its stake in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management during the 2nd quarter valued at $36,000. Finally, Fairscale Capital LLC purchased a new stake in Waste Management during the second quarter valued at about $39,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE:WM opened at $219.11 on Wednesday. The business has a fifty day moving average price of $209.03 and a 200-day moving average price of $208.67. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company has a market capitalization of $87.93 billion, a PE ratio of 34.83, a PEG ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $161.60 and a 1-year high of $225.00.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. As a group, equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.37%. Waste Management’s dividend payout ratio is 47.69%.

Wall Street Analyst Weigh In

WM has been the topic of several recent research reports. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. BMO Capital Markets cut their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Truist Financial decreased their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, Robert W. Baird decreased their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

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.