Corundum Group Inc. Grows Position in Waste Management, Inc. (NYSE:WM)

Corundum Group Inc. grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,948 shares of the business services provider's stock after acquiring an additional 3,297 shares during the quarter. Corundum Group Inc.'s holdings in Waste Management were worth $1,806,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WM. Purus Wealth Management LLC raised its holdings in Waste Management by 1.8% in the 4th quarter. Purus Wealth Management LLC now owns 41,178 shares of the business services provider's stock valued at $8,309,000 after acquiring an additional 732 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $290,000. Diversify Advisory Services LLC boosted its stake in Waste Management by 6.0% during the fourth quarter. Diversify Advisory Services LLC now owns 8,524 shares of the business services provider's stock worth $1,767,000 after buying an additional 482 shares during the last quarter. Diversify Wealth Management LLC increased its stake in shares of Waste Management by 13.1% in the 4th quarter. Diversify Wealth Management LLC now owns 12,565 shares of the business services provider's stock worth $2,604,000 after acquiring an additional 1,453 shares during the last quarter. Finally, City Holding Co. raised its holdings in shares of Waste Management by 0.9% during the 4th quarter. City Holding Co. now owns 48,854 shares of the business services provider's stock worth $9,858,000 after acquiring an additional 454 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % 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 0.4 %

Shares of WM traded up $0.78 during mid-day trading on Monday, reaching $211.79. The company's stock had a trading volume of 1,663,684 shares, compared to its average volume of 1,458,420. The company's 50 day moving average is $213.80 and its 200 day moving average is $211.26. The stock has a market cap of $85.01 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. Waste Management, Inc. has a 12-month low of $181.56 and a 12-month high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management's dividend payout ratio (DPR) is 45.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WM. Truist Financial lifted their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on Waste Management from $214.00 to $227.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. StockNews.com lowered Waste Management from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 4th. Oppenheimer boosted their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Finally, Scotiabank initiated coverage on shares of Waste Management in a research note on Friday, October 4th. They set a "sector perform" rating and a $220.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $230.72.

About Waste Management

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.