Perigon Wealth Management LLC Has $4.97 Million Holdings in Waste Management, Inc. $WM

Perigon Wealth Management LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 12.2% in the 3rd quarter, Holdings Channel reports. The fund owned 22,492 shares of the business services provider’s stock after buying an additional 2,438 shares during the period. Perigon Wealth Management LLC’s holdings in Waste Management were worth $4,967,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WM. Norges Bank acquired a new stake in shares of Waste Management in the second quarter worth $1,064,206,000. Vontobel Holding Ltd. lifted its stake in Waste Management by 444.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after acquiring an additional 1,800,728 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after acquiring an additional 1,717,603 shares during the period. Sustainable Growth Advisers LP grew its stake in Waste Management by 55.5% during the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock valued at $663,037,000 after acquiring an additional 1,034,258 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Waste Management by 982.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock valued at $195,692,000 after purchasing an additional 804,285 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial set a $260.00 price objective on shares of Waste Management in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Waste Management in a report on Monday, December 22nd. Stifel Nicolaus dropped their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company started coverage on Waste Management in a research report on Friday, November 14th. They set an “overweight” rating and a $238.00 price objective for the company. Finally, Sanford C. Bernstein initiated coverage on Waste Management in a research report on Wednesday, November 12th. They issued an “outperform” rating and a $255.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $248.95.

Waste Management Stock Down 0.1%

WM stock opened at $221.03 on Monday. The firm has a market cap of $89.05 billion, a PE ratio of 34.81, a PEG ratio of 2.73 and a beta of 0.58. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The company has a fifty day simple moving average of $211.78 and a 200 day simple moving average of $220.45. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $1.96 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, December 5th. Waste Management’s payout ratio is 51.97%.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.