Capital Wealth Planning LLC Invests $86.36 Million in Waste Management, Inc. (NYSE:WM)

Capital Wealth Planning LLC acquired a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 482,212 shares of the business services provider's stock, valued at approximately $86,364,000. Waste Management makes up about 1.0% of Capital Wealth Planning LLC's investment portfolio, making the stock its 28th largest holding. Capital Wealth Planning LLC owned about 0.12% of Waste Management as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. abrdn plc grew its holdings in Waste Management by 315.7% during the third quarter. abrdn plc now owns 1,457,393 shares of the business services provider's stock valued at $222,165,000 after purchasing an additional 1,106,773 shares during the period. Mirova US LLC boosted its position in Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider's stock worth $163,680,000 after purchasing an additional 910,418 shares during the period. Nordea Investment Management AB increased its stake in shares of Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider's stock worth $827,815,000 after purchasing an additional 776,491 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of Waste Management by 128.2% during the 3rd quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider's stock valued at $137,012,000 after buying an additional 504,924 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Waste Management by 13,927.7% in the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider's stock worth $90,319,000 after buying an additional 500,701 shares during the period. Institutional investors own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WM shares. BMO Capital Markets raised their price target on Waste Management from $207.00 to $212.00 and gave the stock a "market perform" rating in a report on Friday, April 26th. Truist Financial raised their price objective on shares of Waste Management from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on shares of Waste Management from $165.00 to $197.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Royal Bank of Canada boosted their price target on shares of Waste Management from $211.00 to $215.00 and gave the company a "sector perform" rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus increased their price objective on Waste Management from $215.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average target price of $216.24.

Insider Activity

In other news, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The sale was disclosed in a filing with the SEC, which is available through this link. In other Waste Management news, EVP John J. Morris sold 8,889 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total value of $1,844,111.94. Following the completion of the transaction, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tara J. Hemmer sold 1,782 shares of the business's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total transaction of $363,937.86. Following the transaction, the senior vice president now owns 55,591 shares in the company, valued at approximately $11,353,349.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,282 shares of company stock valued at $2,754,889. Insiders own 0.18% of the company's stock.

Waste Management Trading Up 1.5 %

NYSE WM traded up $3.20 during trading on Thursday, hitting $212.20. 1,859,842 shares of the company's stock traded hands, compared to its average volume of 1,665,807. The firm has a market cap of $85.11 billion, a P/E ratio of 34.73, a PEG ratio of 2.74 and a beta of 0.72. The stock has a fifty day moving average of $209.46 and a two-hundred day moving average of $191.71. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. The business had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. Waste Management's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.29 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, June 7th. Waste Management's dividend payout ratio (DPR) is presently 49.10%.

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.