Strategic Financial Concepts LLC Takes $3.25 Million Position in Waste Management, Inc. (NYSE:WM)

Strategic Financial Concepts LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,112 shares of the business services provider's stock, valued at approximately $3,251,000.

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

Waste Management Trading Up 0.2 %

NYSE WM traded up $0.55 on Thursday, reaching $229.07. The stock had a trading volume of 1,189,606 shares, compared to its average volume of 1,664,494. The firm has a market capitalization of $91.94 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 2.74 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 12-month low of $196.59 and a 12-month high of $230.39. The stock has a fifty day moving average price of $212.84 and a two-hundred day moving average price of $212.70.

Waste Management (NYSE:WM - Get Free Report) last announced its 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 net margin of 12.45% and a return on equity of 38.88%. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from Waste Management's previous quarterly dividend of $0.75. Waste Management's dividend payout ratio is currently 44.12%.

Insider Buying and Selling

In related news, SVP Johnson Varkey sold 560 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.11, for a total transaction of $123,261.60. Following the completion of the transaction, the senior vice president now owns 9,152 shares in the company, valued at approximately $2,014,446.72. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Rafael Carrasco sold 4,000 shares of the business's stock in a transaction 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. Over the last quarter, insiders sold 16,055 shares of company stock worth $3,578,340. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James upped their price objective on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Scotiabank boosted their target price on Waste Management from $250.00 to $255.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 3rd. Truist Financial boosted their target price on Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. StockNews.com downgraded Waste Management from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, CIBC upped their price objective on Waste Management from $228.00 to $235.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.94.

Waste Management 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.