Institute for Wealth Management LLC. Increases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Institute for Wealth Management LLC. increased its position in shares of Waste Management, Inc. (NYSE:WM) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,019 shares of the business services provider’s stock after acquiring an additional 295 shares during the period. Institute for Wealth Management LLC.’s holdings in Waste Management were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Aberdeen Wealth Management LLC grew its stake in shares of Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after buying an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its position in Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after acquiring an additional 46 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its stake in Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares during the period. Balboa Wealth Partners boosted its stake in shares of Waste Management by 4.1% during the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 49 shares during the period. Finally, Werlinich Asset Management LLC boosted its position in Waste Management by 1.2% during the 3rd quarter. Werlinich Asset Management LLC now owns 4,385 shares of the business services provider’s stock valued at $910,000 after buying an additional 50 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

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

Waste Management Stock Up 6.2 %

WM opened at $222.57 on Friday. The stock has a market capitalization of $89.33 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.20 and a beta of 0.77. The firm has a 50 day moving average price of $212.26 and a 200-day moving average price of $211.28. Waste Management, Inc. has a twelve month low of $184.72 and a twelve month high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. Equities research analysts forecast that Waste Management, Inc. will post 7.99 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is 44.12%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Argus boosted their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group dropped their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. 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, October 30th. Finally, Oppenheimer increased their target price on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.39.

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.