Lecap Asset Management Ltd. Buys Shares of 12,604 Waste Management, Inc. (NYSE:WM)

Lecap Asset Management Ltd. acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,604 shares of the business services provider’s stock, valued at approximately $2,617,000.

A number of other hedge funds also recently made changes to their positions in the stock. ARS Wealth Advisors Group LLC raised its position in Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. lifted its position in Waste Management by 29.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after buying an additional 49 shares during the last quarter. Cypress Asset Management Inc. TX grew its position in Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after acquiring an additional 50 shares during the last quarter. GYL Financial Synergies LLC raised its stake in shares of Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after acquiring an additional 50 shares in the last quarter. Finally, Aries Wealth Management boosted its stake in shares of Waste Management by 0.6% in the 2nd quarter. Aries Wealth Management now owns 8,780 shares of the business services provider’s stock valued at $1,873,000 after purchasing an additional 50 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. BMO Capital Markets lowered their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. CIBC decreased their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Truist Financial dropped their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Oppenheimer decreased their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Price Performance

Shares of WM stock opened at $211.09 on Wednesday. The business’s fifty day moving average is $208.59 and its 200 day moving average is $208.52. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a market cap of $84.66 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 2.38 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $153.95 and a twelve month high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the company earned $1.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

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.