Waste Management, Inc. (NYSE:WM) Stock Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 480,534 shares of the business services provider’s stock after buying an additional 28,266 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Waste Management worth $99,759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter worth approximately $31,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management during the 2nd quarter worth $36,000. Fairscale Capital LLC acquired a new stake in shares of Waste Management during the second quarter worth $39,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WM has been the subject of a number of analyst reports. CIBC upped their price objective on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their target price on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird reduced their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 1.7 %

WM opened at $224.08 on Friday. The firm has a market cap of $89.94 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The business has a 50 day moving average price of $210.21 and a 200 day moving average price of $209.26. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.36.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business posted $1.63 EPS. Waste Management’s revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is currently 45.87%.

Waste Management 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.