Cedar Mountain Advisors LLC Boosts Holdings in Waste Management, Inc. (NYSE:WM)

Cedar Mountain Advisors LLC grew its position in shares of Waste Management, Inc. (NYSE:WM) by 2,685.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 390 shares of the business services provider’s stock after buying an additional 376 shares during the period. Cedar Mountain Advisors LLC’s holdings in Waste Management were worth $79,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% in the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Swedbank AB increased its holdings in shares of Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after purchasing an additional 709,678 shares in the last quarter. Parnassus Investments LLC lifted its stake in shares of Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Waste Management by 32.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock worth $374,062,000 after buying an additional 437,613 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Waste Management by 138.0% during the third quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock worth $149,168,000 after buying an additional 416,579 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 0.3 %

NYSE WM opened at $209.43 on Friday. The company has a market cap of $84.06 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.17 and a beta of 0.77. Waste Management, Inc. has a 12 month low of $183.00 and a 12 month high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The company has a 50-day moving average of $212.64 and a 200-day moving average of $211.27.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 earnings per share. As a group, equities analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WM. CIBC boosted their price target on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. William Blair initiated coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Royal Bank of Canada raised their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Argus raised their target price on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $229.72.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

Waste Management 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.