Waste Management, Inc. (NYSE:WM) Shares Acquired by Syntax Research Inc.

Syntax Research Inc. increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 502.8% during the third quarter, Holdings Channel.com reports. The fund owned 12,086 shares of the business services provider’s stock after buying an additional 10,081 shares during the period. Waste Management comprises approximately 1.7% of Syntax Research Inc.’s holdings, making the stock its 26th biggest position. Syntax Research Inc.’s holdings in Waste Management were worth $2,509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of WM. Rockland Trust Co. increased its stake in shares of Waste Management by 5.7% during the second quarter. Rockland Trust Co. now owns 1,848 shares of the business services provider’s stock worth $394,000 after purchasing an additional 100 shares in the last quarter. Moss Adams Wealth Advisors LLC purchased a new position in Waste Management in the 2nd quarter valued at $217,000. GYL Financial Synergies LLC grew its holdings in shares of Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after buying an additional 50 shares in the last quarter. &PARTNERS raised its position in shares of Waste Management by 437.1% in the second quarter. &PARTNERS now owns 11,129 shares of the business services provider’s stock valued at $2,363,000 after buying an additional 9,057 shares during the last quarter. Finally, Cornerstone Wealth Group LLC purchased a new position in shares of Waste Management in the second quarter worth about $221,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

WM opened at $208.92 on Wednesday. The stock’s 50-day moving average price is $217.79 and its 200 day moving average price is $211.51. Waste Management, Inc. has a 12-month low of $175.01 and a 12-month high of $230.39. The firm has a market cap of $83.85 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.36 and a beta of 0.75. 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 (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WM. Argus raised their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Scotiabank started coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. CIBC raised their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer raised their price objective on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Company 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.