Glenmede Trust Co. NA Acquires 1,701 Shares of Waste Management, Inc. (NYSE:WM)

Glenmede Trust Co. NA boosted its holdings in Waste Management, Inc. (NYSE:WM) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,205 shares of the business services provider’s stock after purchasing an additional 1,701 shares during the period. Glenmede Trust Co. NA’s holdings in Waste Management were worth $7,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. RBO & Co. LLC increased its position in Waste Management by 1,722.7% during the third quarter. RBO & Co. LLC now owns 54,681 shares of the business services provider’s stock worth $11,352,000 after buying an additional 51,681 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Waste Management by 8.5% during the 3rd quarter. Townsquare Capital LLC now owns 27,280 shares of the business services provider’s stock worth $5,663,000 after acquiring an additional 2,133 shares during the last quarter. Thematics Asset Management raised its stake in Waste Management by 8.6% in the 3rd quarter. Thematics Asset Management now owns 59,548 shares of the business services provider’s stock valued at $12,362,000 after acquiring an additional 4,700 shares during the period. BNP Paribas Financial Markets lifted its holdings in Waste Management by 52.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,326 shares of the business services provider’s stock valued at $118,815,000 after purchasing an additional 197,841 shares during the last quarter. Finally, Avestar Capital LLC increased its holdings in shares of Waste Management by 8.1% in the third quarter. Avestar Capital LLC now owns 3,434 shares of the business services provider’s stock valued at $713,000 after purchasing an additional 256 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Down 0.1 %

Shares of WM opened at $228.22 on Friday. The firm has a market cap of $91.60 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.40 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $230.39. The business’s fifty day moving average is $215.17 and its 200-day moving average is $210.69.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.31%. Waste Management’s payout ratio is presently 45.87%.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research reports. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 23rd. Argus boosted their price objective on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial increased their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, CIBC lifted their target price on Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $228.94.

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.