Red Door Wealth Management LLC Increases Holdings in Waste Management, Inc. (NYSE:WM)

Red Door Wealth Management LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,581 shares of the business services provider’s stock after purchasing an additional 1,715 shares during the quarter. Red Door Wealth Management LLC’s holdings in Waste Management were worth $5,666,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. New Mexico Educational Retirement Board grew its holdings in Waste Management by 16.1% during the first quarter. New Mexico Educational Retirement Board now owns 22,366 shares of the business services provider’s stock worth $4,767,000 after acquiring an additional 3,100 shares during the period. Founders Financial Securities LLC grew its holdings in Waste Management by 5.1% during the first quarter. Founders Financial Securities LLC now owns 6,026 shares of the business services provider’s stock worth $1,284,000 after acquiring an additional 292 shares during the period. Foguth Wealth Management LLC. acquired a new stake in Waste Management during the first quarter worth about $536,000. CRA Financial Services LLC acquired a new stake in Waste Management during the first quarter worth about $227,000. Finally, Vicus Capital acquired a new stake in Waste Management during the first quarter worth about $295,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Waste Management Trading Up 0.3 %

Waste Management stock traded up $0.67 during trading on Friday, reaching $213.34. 2,908,229 shares of the company were exchanged, compared to its average volume of 1,972,412. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The company has a market capitalization of $85.57 billion, a P/E ratio of 34.92, a PEG ratio of 2.48 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $208.06 and its two-hundred day simple moving average is $199.85.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the business posted $1.31 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. Waste Management’s dividend payout ratio is currently 49.10%.

Analysts Set New Price Targets

WM has been the topic of several research analyst reports. Truist Financial raised their price objective on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, April 26th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $217.61.

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.