Mattern Capital Management LLC Boosts Position in Waste Management, Inc. (NYSE:WM)

Mattern Capital Management LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 33.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,074 shares of the business services provider’s stock after buying an additional 520 shares during the period. Mattern Capital Management LLC’s holdings in Waste Management were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its position in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management during the second quarter worth $31,000. Sachetta LLC bought a new stake in Waste Management during the 4th quarter valued at $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management in the 1st quarter valued at $35,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Waste Management during the 4th quarter worth $38,000. 80.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WM. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Truist Financial lowered their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Robert W. Baird decreased their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. CIBC dropped their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Down 0.1 %

Shares of WM opened at $209.27 on Thursday. The company has a market capitalization of $83.98 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.37 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00. The stock’s 50-day moving average price is $209.68 and its 200-day moving average price is $208.66. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the company earned $1.51 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.