Arkadios Wealth Advisors Purchases 1,360 Shares of Waste Management, Inc. (NYSE:WM)

Arkadios Wealth Advisors boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 21.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,842 shares of the business services provider’s stock after purchasing an additional 1,360 shares during the period. Arkadios Wealth Advisors’ holdings in Waste Management were worth $1,628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its position in Waste Management by 8.8% during the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock worth $161,000 after acquiring an additional 61 shares during the last quarter. Vicus Capital bought a new stake in shares of Waste Management during the first quarter worth $295,000. CRA Financial Services LLC acquired a new stake in shares of Waste Management in the first quarter valued at $227,000. Founders Financial Securities LLC raised its holdings in shares of Waste Management by 5.1% in the first quarter. Founders Financial Securities LLC now owns 6,026 shares of the business services provider’s stock valued at $1,284,000 after buying an additional 292 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in Waste Management by 16.1% during the 1st quarter. New Mexico Educational Retirement Board now owns 22,366 shares of the business services provider’s stock worth $4,767,000 after buying an additional 3,100 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

WM opened at $206.80 on Friday. The company has a fifty day simple moving average of $208.77 and a 200 day simple moving average of $208.56. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a market cap of $82.94 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.34 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $160.90 and a 12 month high of $225.00.

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

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is currently 49.10%.

Wall Street Analyst Weigh In

WM has been the subject of a number of research analyst reports. Scotiabank started coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Royal Bank of Canada dropped their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Robert W. Baird decreased their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. William Blair started coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Truist Financial lowered their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $218.89.

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.