Waste Management, Inc. (NYSE:WM) is Palumbo Wealth Management LLC's 8th Largest Position

Palumbo Wealth Management LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,744 shares of the business services provider's stock after acquiring an additional 2,191 shares during the period. Waste Management comprises approximately 2.5% of Palumbo Wealth Management LLC's investment portfolio, making the stock its 8th biggest holding. Palumbo Wealth Management LLC's holdings in Waste Management were worth $6,809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aberdeen Wealth Management LLC grew its holdings in Waste Management by 1.1% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider's stock valued at $857,000 after buying an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in shares of Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider's stock valued at $257,000 after purchasing an additional 46 shares during the period. Catalyst Financial Partners LLC increased its position in Waste Management by 2.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider's stock worth $411,000 after purchasing an additional 48 shares during the last quarter. Benchmark Financial Wealth Advisors LLC raised its stake in Waste Management by 1.9% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider's stock worth $546,000 after purchasing an additional 49 shares during the period. Finally, Balboa Wealth Partners grew its stake in shares of Waste Management by 4.1% in the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider's stock valued at $256,000 after buying an additional 49 shares during the period. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Up 0.0 %

WM stock traded up $0.05 during mid-day trading on Wednesday, reaching $228.40. The company had a trading volume of 1,256,174 shares, compared to its average volume of 1,679,337. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $230.39. The company has a market capitalization of $91.67 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.74 and a beta of 0.78. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The firm has a fifty day simple moving average of $212.57 and a 200 day simple moving average of $212.59.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (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%. Analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.44%. 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 is 44.12%.

Insider Buying and Selling at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 4,576 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total value of $1,016,421.12. Following the transaction, the senior vice president now directly owns 58,765 shares in the company, valued at $13,052,881.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald J. Smith sold 191 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the sale, the vice president now owns 6,129 shares of the company's stock, valued at $1,349,728.38. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,055 shares of company stock worth $3,578,340 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

WM has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Waste Management from $204.00 to $220.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. CIBC boosted their price objective on shares of Waste Management from $228.00 to $235.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Raymond James increased their target price on shares of Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, Oppenheimer upped their price objective on shares of Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and an average 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.