Peterson Wealth Management Makes New Investment in Waste Management, Inc. (NYSE:WM)

Peterson Wealth Management bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,072 shares of the business services provider’s stock, valued at approximately $655,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. ARS Wealth Advisors Group LLC lifted its stake 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 purchasing an additional 47 shares during the last quarter. McClarren Financial Advisors Inc. lifted its stake in Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after purchasing an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC lifted its stake in Waste Management by 1.2% during the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after purchasing an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX lifted its stake in Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after purchasing an additional 50 shares during the last quarter. Finally, GYL Financial Synergies LLC lifted its stake in 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 purchasing an additional 50 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

WM opened at $208.40 on Friday. The company has a market capitalization of $83.64 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.37 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a 50-day moving average price of $209.60 and a 200-day moving average price of $208.66. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00.

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, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company posted $1.51 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s payout ratio is currently 49.10%.

Analyst Ratings Changes

A number of brokerages have recently commented on WM. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Truist Financial dropped their price target 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. Oppenheimer dropped their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, BMO Capital Markets dropped their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.