Waste Management, Inc. $WM Stock: True Freedom Investing LLC Increases Position

True Freedom Investing LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,743 shares of the business services provider’s stock after purchasing an additional 2,249 shares during the quarter. True Freedom Investing LLC’s holdings in Waste Management were worth $5,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Main Street Group LTD acquired a new position in Waste Management in the 1st quarter valued at $31,000. Balance Wealth Partners LLC bought a new position in Waste Management in the third quarter worth about $31,000. Cape Investment Advisory Inc. acquired a new stake in Waste Management in the 2nd quarter valued at approximately $36,000. Markowski Investments bought a new stake in shares of Waste Management in the 2nd quarter worth $38,000. Finally, Bogart Wealth LLC raised its position in shares of Waste Management by 93.5% during the first quarter. Bogart Wealth LLC now owns 180 shares of the business services provider’s stock worth $41,000 after purchasing an additional 87 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Waste Management news, CAO John Carroll sold 1,365 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the sale, the chief accounting officer directly owned 3,509 shares in the company, valued at approximately $771,629.10. This trade represents a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE:WM opened at $233.33 on Monday. The company’s 50 day moving average price is $217.85 and its two-hundred day moving average price is $225.13. The firm has a market cap of $92.78 billion, a PE ratio of 30.62, a PEG ratio of 3.03 and a beta of 0.38. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.03). The business had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.81 billion. Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.98 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 8.06 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.9450 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.78 annualized dividend and a yield of 1.6%. Waste Management’s dividend payout ratio is presently 49.61%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WM shares. Stifel Nicolaus raised their price target on shares of Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $267.00 price target on shares of Waste Management in a report on Thursday. Weiss Ratings upgraded shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Canadian Imperial Bank of Commerce reduced their price target on shares of Waste Management from $250.00 to $225.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Finally, Morgan Stanley lowered their price target on shares of Waste Management from $230.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.89.

Waste Management Profile

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.