DLK Investment Management LLC Increases Position in Waste Management, Inc. (NYSE:WM)

DLK Investment Management LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,608 shares of the business services provider’s stock after buying an additional 208 shares during the quarter. Waste Management comprises approximately 2.7% of DLK Investment Management LLC’s holdings, making the stock its 10th largest position. DLK Investment Management LLC’s holdings in Waste Management were worth $6,977,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ARS Wealth Advisors Group LLC grew its holdings in Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after buying an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. increased its stake in Waste Management by 29.7% during the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after buying an additional 49 shares during the period. Mayflower Financial Advisors LLC lifted its stake in shares of Waste Management by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after acquiring an additional 50 shares during the period. Cypress Asset Management Inc. TX boosted its holdings in shares of Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after acquiring an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC increased its stake in shares of 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 valued at $290,000 after acquiring an additional 50 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WM shares. Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Robert W. Baird decreased their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Finally, Scotiabank began coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $218.89.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Up 0.3 %

WM traded up $0.59 during trading hours on Friday, hitting $211.83. 219,755 shares of the company’s stock were exchanged, compared to its average volume of 1,639,083. Waste Management, Inc. has a 1-year low of $153.95 and a 1-year high of $225.00. The stock has a market cap of $84.96 billion, a price-to-earnings ratio of 34.57, 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 stock’s 50-day moving average is $207.28 and its two-hundred day moving average is $208.48.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting 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 analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management’s payout ratio is 49.10%.

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.