Waste Management, Inc. (NYSE:WM) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 68.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,438 shares of the business services provider’s stock after acquiring an additional 10,303 shares during the period. Concurrent Investment Advisors LLC’s holdings in Waste Management were worth $5,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Waste Management during the fourth quarter worth approximately $784,486,000. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management in the 1st quarter worth $300,594,000. Capital World Investors lifted its holdings in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares during the period. Swedbank AB acquired a new position in Waste Management during the first quarter worth about $193,955,000. Finally, AMF Tjanstepension AB lifted its holdings in Waste Management by 85.6% in the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after acquiring an additional 720,358 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of WM stock traded up $2.16 during mid-day trading on Friday, reaching $212.04. The company’s stock had a trading volume of 1,786,797 shares, compared to its average volume of 1,671,641. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a market cap of $85.10 billion, a P/E ratio of 34.70, a PEG ratio of 2.34 and a beta of 0.74. The firm’s 50-day moving average is $209.81 and its two-hundred day moving average is $208.38.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 earnings per share. On average, research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s payout ratio is presently 49.10%.

Insider Transactions at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WM has been the topic of a number of research reports. Oppenheimer dropped their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Truist Financial reduced their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, Robert W. Baird dropped their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

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.