Stenger Family Office LLC Purchases New Shares in Waste Management, Inc. $WM

Stenger Family Office LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,900 shares of the business services provider’s stock, valued at approximately $1,837,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC lifted its position in Waste Management by 3.1% during the second quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock worth $13,064,000 after purchasing an additional 1,698 shares during the period. GPM Growth Investors Inc. increased its holdings in Waste Management by 50.6% in the 2nd quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after buying an additional 5,588 shares during the period. Truist Financial Corp raised its position in shares of Waste Management by 62.9% in the 2nd quarter. Truist Financial Corp now owns 268,033 shares of the business services provider’s stock valued at $61,331,000 after buying an additional 103,487 shares in the last quarter. Machina Capital S.A.S. bought a new stake in shares of Waste Management during the 2nd quarter worth approximately $4,361,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Waste Management in the second quarter valued at approximately $6,865,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on WM. Cowen restated a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Sanford C. Bernstein started coverage on Waste Management in a research note on Wednesday, November 12th. They issued an “outperform” rating and a $255.00 price objective on the stock. Scotiabank dropped their target price on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 29th. Oppenheimer reiterated an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company initiated coverage on shares of Waste Management in a research report on Friday, November 14th. They issued an “overweight” rating and a $238.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.14.

Waste Management Stock Performance

NYSE WM opened at $213.61 on Friday. The company has a market capitalization of $86.06 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.64 and a beta of 0.58. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58. The stock has a fifty day simple moving average of $212.08 and a 200 day simple moving average of $222.78.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the firm posted $1.96 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s dividend payout ratio is currently 51.97%.

Insiders Place Their Bets

In related news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.