Solidarity Wealth LLC Acquires 11,054 Shares of Waste Management, Inc. $WM

Solidarity Wealth LLC lifted its stake in Waste Management, Inc. (NYSE:WM) by 303.8% in the third quarter, Holdings Channel.com reports. The fund owned 14,693 shares of the business services provider’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other Waste Management 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 completion of the sale, the senior vice president directly owned 15,540 shares of the company’s stock, 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 document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Waste Management Price Performance

Shares of Waste Management stock opened at $220.96 on Friday. The firm has a market capitalization of $89.02 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.47 and a beta of 0.59. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58. The business’s 50-day moving average price is $213.84 and its 200-day moving average price is $219.52.

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

Waste Management Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on WM shares. CIBC cut their price target on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. Robert W. Baird upgraded Waste Management from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Baird R W upgraded Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada decreased their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.77.

About Waste Management

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.