Miramar Capital LLC Grows Position in Waste Management, Inc. (NYSE:WM)

Miramar Capital LLC grew its position in shares of Waste Management, Inc. (NYSE:WM) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,765 shares of the business services provider’s stock after acquiring an additional 1,739 shares during the quarter. Waste Management accounts for approximately 2.3% of Miramar Capital LLC’s portfolio, making the stock its 25th largest holding. Miramar Capital LLC’s holdings in Waste Management were worth $9,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC increased its position in shares of Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 46 shares during the last quarter. ARS Wealth Advisors Group LLC increased its holdings in Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after buying an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC raised its position in Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after acquiring an additional 49 shares during the period. Balboa Wealth Partners boosted its stake in Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 49 shares during the last quarter. Finally, Cypress Asset Management Inc. TX grew its position in shares of Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Oppenheimer upped their price objective on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. CIBC increased their target price on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Eleven 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $226.11.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was 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 $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Waste Management Stock Down 1.7 %

Shares of NYSE WM opened at $217.89 on Friday. The stock has a market capitalization of $87.45 billion, a P/E ratio of 33.32, a PEG ratio of 2.38 and a beta of 0.74. Waste Management, Inc. has a one year low of $168.73 and a one year high of $226.84. The firm’s 50 day simple moving average is $211.61 and its two-hundred day simple moving average is $209.67. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last released its earnings results 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 company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. As a group, analysts expect that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.38%. Waste Management’s payout ratio is currently 45.87%.

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.