Perpetual Ltd Grows Stock Holdings in Waste Management, Inc. (NYSE:WM)

Perpetual Ltd lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 65,910 shares of the business services provider’s stock after acquiring an additional 3,831 shares during the period. Perpetual Ltd’s holdings in Waste Management were worth $13,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. increased its position in Waste Management by 20.1% during the second quarter. Sei Investments Co. now owns 225,389 shares of the business services provider’s stock worth $48,085,000 after purchasing an additional 37,754 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Waste Management by 6.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 49,025 shares of the business services provider’s stock worth $10,459,000 after buying an additional 2,760 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Waste Management by 9.8% in the second quarter. ProShare Advisors LLC now owns 51,214 shares of the business services provider’s stock valued at $10,926,000 after acquiring an additional 4,554 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Waste Management by 53,520.0% during the second quarter. Frank Rimerman Advisors LLC now owns 8,043 shares of the business services provider’s stock valued at $1,716,000 after acquiring an additional 8,028 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Waste Management by 40.0% during the second quarter. 1832 Asset Management L.P. now owns 29,584 shares of the business services provider’s stock worth $6,311,000 after acquiring an additional 8,448 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of WM stock opened at $211.79 on Tuesday. The firm has a market cap of $85.01 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.14 and a beta of 0.77. The firm has a fifty day moving average of $213.80 and a two-hundred day moving average of $211.26. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 1-year low of $181.56 and a 1-year high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, research analysts anticipate that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WM shares. Royal Bank of Canada lifted their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 4th. William Blair initiated coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.72.

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.