1,276 Shares in Waste Management, Inc. (NYSE:WM) Bought by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,276 shares of the business services provider’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WM. International Assets Investment Management LLC raised its holdings in Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Waste Management in the first quarter worth $300,594,000. Capital World Investors raised 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 worth $900,957,000 after acquiring an additional 1,303,466 shares during the last quarter. Swedbank AB acquired a new position in shares of Waste Management in the first quarter worth $193,955,000. Finally, Wulff Hansen & CO. raised its holdings in shares of Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after acquiring an additional 863,846 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of NYSE WM opened at $213.99 on Friday. Waste Management, Inc. has a 1-year low of $162.34 and a 1-year high of $225.00. The business has a 50-day moving average of $209.34 and a 200-day moving average of $208.85. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 1.03. The company has a market capitalization of $85.89 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The company’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Waste Management, Inc. will post 7.28 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. CIBC boosted their price target on Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Truist Financial lifted their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Argus lifted their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley lifted their price objective on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday. Eleven research 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. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $226.05.

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.