Koa Wealth Management LLC Increases Position in Waste Management, Inc. (NYSE:WM)

Koa Wealth Management LLC raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 294.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,846 shares of the business services provider's stock after purchasing an additional 2,871 shares during the period. Koa Wealth Management LLC's holdings in Waste Management were worth $798,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter valued at approximately $31,000. Fairway Wealth LLC grew its position in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider's stock worth $36,000 after purchasing an additional 66 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Waste Management in the 2nd quarter worth approximately $39,000. Strategic Investment Solutions Inc. IL bought a new stake in Waste Management during the second quarter worth $36,000. Finally, Hexagon Capital Partners LLC grew its stake in Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider's stock valued at $42,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial increased their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Waste Management from $213.00 to $219.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised Waste Management to a "strong-buy" rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Finally, Argus lifted their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.11.

Waste Management Stock Performance

Shares of Waste Management stock traded down $3.82 during trading on Friday, hitting $217.90. 1,796,714 shares of the company's stock traded hands, compared to its average volume of 1,494,235. The business has a 50-day simple moving average of $211.61 and a 200-day simple moving average of $209.67. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a market capitalization of $87.46 billion, a P/E ratio of 33.32, a PEG ratio of 2.34 and a beta of 0.74. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $226.84.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 earnings per share. As a group, analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management's dividend payout ratio (DPR) is presently 45.87%.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.