C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.35 Million in Waste Management, Inc. (NYSE:WM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,324 shares of the business services provider's stock, valued at approximately $1,345,000.

A number of other hedge funds have also recently added to or reduced their stakes in WM. Activest Wealth Management lifted its position in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider's stock valued at $26,000 after purchasing an additional 120 shares during the period. Global Wealth Strategies & Associates lifted its position in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock valued at $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. acquired a new position in Waste Management during the 4th quarter valued at about $29,000. Sugar Maple Asset Management LLC acquired a new position in Waste Management during the 4th quarter valued at about $35,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at approximately $35,000. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Shares of WM stock traded down $1.24 on Friday, reaching $227.89. The company had a trading volume of 1,709,065 shares, compared to its average volume of 1,665,810. The stock has a market capitalization of $91.47 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a one year low of $196.59 and a one year high of $230.39. The business's 50-day moving average is $213.14 and its 200 day moving average is $212.81.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, March 14th. This is a positive change from Waste Management's previous quarterly dividend of $0.75. Waste Management's dividend payout ratio (DPR) is 44.12%.

Insider Activity at Waste Management

In other Waste Management news, CAO John A. Carroll sold 209 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the completion of the transaction, the chief accounting officer now owns 9,066 shares in the company, valued at approximately $1,999,506.30. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rafael Carrasco sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $225.89, for a total transaction of $903,560.00. Following the transaction, the senior vice president now owns 18,531 shares of the company's stock, valued at approximately $4,185,967.59. The trade was a 17.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,055 shares of company stock worth $3,578,340 in the last quarter. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Scotiabank increased their price target on shares of Waste Management from $250.00 to $255.00 and gave the company a "sector outperform" rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Oppenheimer increased their price target on shares of Waste Management from $231.00 to $237.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. UBS Group increased their price target on shares of Waste Management from $220.00 to $226.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased their target price on Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.94.

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.