Mengis Capital Management Inc. Has $1.21 Million Position in Waste Management, Inc. (NYSE:WM)

Mengis Capital Management Inc. boosted its position in Waste Management, Inc. (NYSE:WM) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,803 shares of the business services provider’s stock after acquiring an additional 73 shares during the quarter. Mengis Capital Management Inc.’s holdings in Waste Management were worth $1,205,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Community Bank & Trust Waco Texas increased its stake in shares of Waste Management by 4.3% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 3,161 shares of the business services provider’s stock valued at $656,000 after purchasing an additional 129 shares during the last quarter. Empower Advisory Group LLC grew its position in Waste Management by 1.3% in the third quarter. Empower Advisory Group LLC now owns 436,629 shares of the business services provider’s stock valued at $90,644,000 after acquiring an additional 5,725 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Waste Management by 4.4% in the third quarter. Aptus Capital Advisors LLC now owns 9,416 shares of the business services provider’s stock worth $1,955,000 after acquiring an additional 396 shares during the last quarter. Savvy Advisors Inc. grew its holdings in shares of Waste Management by 28.7% during the 3rd quarter. Savvy Advisors Inc. now owns 3,377 shares of the business services provider’s stock valued at $701,000 after purchasing an additional 753 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its position in Waste Management by 2.1% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 12,752 shares of the business services provider’s stock worth $2,647,000 after purchasing an additional 259 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 in the company, valued at $834,946.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WM shares. Robert W. Baird lowered their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial upped their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. CIBC lifted their target price on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Up 0.5 %

Waste Management stock opened at $224.78 on Wednesday. The company has a market capitalization of $90.22 billion, a PE ratio of 34.37, a PEG ratio of 2.36 and a beta of 0.74. The firm’s fifty day moving average is $210.75 and its 200 day moving average is $209.43. 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 $168.73 and a 12-month high of $226.50.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion for 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%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.33%. Waste Management’s payout ratio is 45.87%.

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.