Golden State Wealth Management LLC Makes New Investment in Waste Management, Inc. (NYSE:WM)

Golden State Wealth Management LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 557 shares of the business services provider’s stock, valued at approximately $113,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WM. Activest Wealth Management grew its position in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Global Wealth Strategies & Associates increased its stake in shares of Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. bought a new stake in Waste Management during the 4th quarter valued at $29,000. Sugar Maple Asset Management LLC acquired a new stake in Waste Management in the fourth quarter worth about $35,000. Finally, Richardson Financial Services Inc. lifted its stake in shares of Waste Management by 65.7% in the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock worth $35,000 after acquiring an additional 69 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 4,576 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,016,421.12. Following the transaction, the senior vice president now directly owns 58,765 shares in the company, valued at approximately $13,052,881.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rafael Carrasco sold 4,000 shares of Waste Management stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the sale, the senior vice president now owns 18,531 shares of the company’s stock, valued at approximately $4,185,967.59. The trade was a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,055 shares of company stock worth $3,578,340 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada lifted their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. CIBC upped their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Truist Financial lifted their price objective 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. Finally, BMO Capital Markets increased their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.50.

Waste Management Stock Performance

NYSE:WM opened at $224.94 on Monday. The firm has a market capitalization of $90.28 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. 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, Inc. has a 12-month low of $187.48 and a 12-month high of $230.39. The firm has a 50-day moving average price of $211.84 and a 200 day moving average price of $211.39.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 44.12%.

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.