Spirit of America Management Corp NY Buys 500 Shares of Waste Management, Inc. (NYSE:WM)

Spirit of America Management Corp NY increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 111.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 950 shares of the business services provider’s stock after buying an additional 500 shares during the period. Spirit of America Management Corp NY’s holdings in Waste Management were worth $197,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings in Waste Management by 10,366.7% in the third quarter. Global Trust Asset Management LLC now owns 314 shares of the business services provider’s stock worth $65,000 after buying an additional 311 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Waste Management by 1,036.4% during the third quarter. Assenagon Asset Management S.A. now owns 115,595 shares of the business services provider’s stock valued at $23,998,000 after buying an additional 105,423 shares during the period. Grimes & Company Inc. bought a new stake in Waste Management during the third quarter valued at approximately $214,000. CENTRAL TRUST Co grew its position in Waste Management by 0.3% during the third quarter. CENTRAL TRUST Co now owns 25,797 shares of the business services provider’s stock valued at $5,355,000 after buying an additional 78 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Waste Management by 43.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 18,323 shares of the business services provider’s stock worth $3,804,000 after purchasing an additional 5,580 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $208.91 on Friday. Waste Management, Inc. has a 12-month low of $156.36 and a 12-month high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $83.84 billion, a PE ratio of 33.21, a P/E/G ratio of 2.34 and a beta of 0.74. The firm has a 50 day moving average of $208.70 and a two-hundred day moving average of $208.54.

Waste Management (NYSE:WM) last posted its quarterly earnings results 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. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the firm posted $1.51 EPS. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 47.69%.

Wall Street Analyst Weigh In

WM has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, Robert W. Baird lowered their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.89.

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.