Quest Partners LLC Acquires 3,850 Shares of Waste Management, Inc. (NYSE:WM)

Quest Partners LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 59.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,350 shares of the business services provider's stock after acquiring an additional 3,850 shares during the quarter. Quest Partners LLC's holdings in Waste Management were worth $2,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its stake in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider's stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Sachetta LLC bought a new position in shares of Waste Management in the 4th quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Waste Management in the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management during the 1st quarter valued at about $35,000. Finally, DSM Capital Partners LLC acquired a new stake in Waste Management during the fourth quarter worth approximately $38,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

NYSE:WM traded up $3.75 during trading on Monday, reaching $208.48. The company's stock had a trading volume of 2,290,005 shares, compared to its average volume of 1,677,132. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The firm has a market cap of $83.67 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The firm has a 50 day moving average of $209.41 and a 200-day moving average of $208.77. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.82. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management's payout ratio is presently 49.10%.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business's stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company's stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on WM shares. Royal Bank of Canada cut their price target on Waste Management from $215.00 to $204.00 and set a "sector perform" rating on the stock in a report on Friday, July 26th. Robert W. Baird reduced their price target on shares of Waste Management from $226.00 to $216.00 and set a "neutral" rating for the company in a report on Friday, July 26th. Oppenheimer dropped their price objective on shares of Waste Management from $229.00 to $224.00 and set an "outperform" rating on the stock in a report on Friday, July 26th. CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Finally, Truist Financial reduced their price objective on Waste Management from $240.00 to $235.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.83.

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.