Solidarity Wealth LLC Has $3.25 Million Position in Waste Management, Inc. $WM

Solidarity Wealth LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 303.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,693 shares of the business services provider’s stock after buying an additional 11,054 shares during the period. Solidarity Wealth LLC’s holdings in Waste Management were worth $3,245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WM. Vanguard Group Inc. raised its holdings in shares of Waste Management by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock worth $8,617,866,000 after acquiring an additional 292,868 shares during the last quarter. Geode Capital Management LLC increased its holdings in Waste Management by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock worth $1,972,856,000 after purchasing an additional 126,329 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Waste Management by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock worth $1,232,131,000 after purchasing an additional 74,528 shares during the last quarter. Norges Bank bought a new position in shares of Waste Management in the second quarter valued at approximately $1,064,206,000. Finally, Amundi boosted its position in shares of Waste Management by 8.6% during the second quarter. Amundi now owns 3,596,281 shares of the business services provider’s stock valued at $804,809,000 after buying an additional 284,733 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WM has been the subject of a number of analyst reports. Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and increased their price target for the company from $238.00 to $242.00 in a research report on Tuesday, November 4th. Oppenheimer increased their target price on shares of Waste Management from $262.00 to $263.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. Citigroup boosted their price target on shares of Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Sanford C. Bernstein upped their price objective on shares of Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Finally, Morgan Stanley dropped their target price on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.77.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 1.4%

WM opened at $220.96 on Friday. The company’s 50-day moving average price is $213.84 and its two-hundred day moving average price is $219.52. 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 market cap of $89.02 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.47 and a beta of 0.59.

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

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is 51.97%.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.