Strategic Financial Concepts LLC Invests $3.25 Million in Waste Management, Inc. (NYSE:WM)

Strategic Financial Concepts LLC purchased a new position in Waste Management, Inc. (NYSE:WM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,112 shares of the business services provider’s stock, valued at approximately $3,251,000.

A number of other institutional investors have also added to or reduced their stakes in WM. Geode Capital Management LLC grew its position in shares of Waste Management by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after buying an additional 168,818 shares during the period. Parnassus Investments LLC boosted its stake in Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after acquiring an additional 520,096 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Waste Management by 12.8% in the 3rd quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock worth $505,175,000 after purchasing an additional 276,287 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. CIBC upped their price target on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial raised 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. Royal Bank of Canada upped their target price 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. Finally, Oppenheimer raised their price target on shares of Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Nine 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, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $235.94.

Insider Buying and Selling at Waste Management

In other news, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now directly owns 9,066 shares in the company, valued at $1,999,506.30. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 5,826 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,294,071.12. Following the sale, the chief financial officer now owns 69,442 shares of the company’s stock, valued at $15,424,457.04. This represents a 7.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,055 shares of company stock valued at $3,578,340 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Trading Up 0.1 %

Shares of WM stock opened at $227.80 on Monday. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $230.39. The firm has a fifty day moving average price of $212.11 and a 200-day moving average price of $212.22. The company has a market cap of $91.43 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.70 and a beta of 0.78. 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 (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

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.