Corundum Group Inc. Purchases 3,297 Shares of Waste Management, Inc. (NYSE:WM)

Corundum Group Inc. increased its position in Waste Management, Inc. (NYSE:WM) by 58.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,948 shares of the business services provider’s stock after purchasing an additional 3,297 shares during the quarter. Corundum Group Inc.’s holdings in Waste Management were worth $1,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Activest Wealth Management grew its position in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. General Partner Inc. bought a new stake in shares of Waste Management during the 4th quarter valued at $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management in the 2nd quarter valued at $36,000. Finally, Fairscale Capital LLC bought a new position in shares of Waste Management in the 2nd quarter worth $39,000. 80.40% of the stock is owned by institutional investors.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

WM has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. William Blair started coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Ten 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Price Performance

NYSE WM opened at $211.79 on Monday. Waste Management, Inc. has a 12-month low of $181.56 and a 12-month high of $230.39. The firm’s 50 day moving average is $213.80 and its 200-day moving average is $211.25. The company has a market capitalization of $85.01 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. 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 (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is 45.87%.

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.