McAdam LLC Invests $227,000 in Waste Management, Inc. (NYSE:WM)

McAdam LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,266 shares of the business services provider’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of Waste Management by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock worth $1,061,521,000 after acquiring an additional 46,084 shares during the period. Nordea Investment Management AB lifted its stake in Waste Management by 16.9% in the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after purchasing an additional 776,491 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Waste Management by 1.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock valued at $794,174,000 after purchasing an additional 66,816 shares during the last quarter. Northern Trust Corp lifted its stake in Waste Management by 2.3% in the 3rd quarter. Northern Trust Corp now owns 4,065,843 shares of the business services provider’s stock valued at $619,797,000 after purchasing an additional 90,129 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Waste Management by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 2,446,103 shares of the business services provider’s stock valued at $372,886,000 after acquiring an additional 9,001 shares during the period. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Raymond James upped their price target on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Jefferies Financial Group increased their price objective on shares of Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Truist Financial increased their price objective on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.24.

Waste Management Stock Down 2.0 %

Waste Management stock opened at $208.01 on Wednesday. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54. The firm has a market capitalization of $83.43 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.80 and a beta of 0.72. The firm’s fifty day moving average price is $208.88 and its two-hundred day moving average price is $188.04. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 7.19 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 14th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Activity at Waste Management

In related news, EVP Charles C. Boettcher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the transaction, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total value of $523,750.00. Following the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the completion of the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The disclosure for this sale can be found here. Insiders have sold 18,007 shares of company stock valued at $3,696,520 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.