Scissortail Wealth Management LLC Makes New $997,000 Investment in Waste Management, Inc. (NYSE:WM)

Scissortail Wealth Management LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,377 shares of the business services provider’s stock, valued at approximately $997,000.

A number of other large investors also recently added to or reduced their stakes in the business. Gilfoyle & Co LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $30,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Waste Management in the 4th quarter worth $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the first quarter valued at about $29,000. Indiana Trust & Investment Management CO bought a new position in shares of Waste Management during the third quarter valued at about $28,000. Finally, KB Financial Partners LLC bought a new stake in shares of Waste Management in the first quarter worth about $33,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.2 %

Shares of WM traded down $0.40 during trading hours on Tuesday, hitting $204.96. The company had a trading volume of 1,457,302 shares, compared to its average volume of 1,687,398. The stock has a market capitalization of $82.25 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 3.12 and a beta of 0.72. The firm has a fifty day moving average price of $205.99 and a 200-day moving average price of $183.90. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.86 and a current ratio of 0.90.

Waste Management (NYSE:WM) last issued its earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.21. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. On average, equities research analysts forecast that Waste Management, Inc. will post 6.88 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.75 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Thursday, March 14th. Waste Management’s dividend payout ratio is presently 53.00%.

Insider Activity at Waste Management

In other news, CEO James C. Fish, Jr. sold 9,550 shares of Waste Management stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $182.00, for a total value of $1,738,100.00. Following the completion of the sale, the chief executive officer now directly owns 152,838 shares in the company, valued at $27,816,516. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $184.50, for a total transaction of $461,250.00. Following the completion of the sale, the executive vice president now directly owns 32,959 shares in the company, valued at approximately $6,080,935.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James C. Fish, Jr. sold 9,550 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $182.00, for a total transaction of $1,738,100.00. Following the completion of the transaction, the chief executive officer now owns 152,838 shares in the company, valued at approximately $27,816,516. The disclosure for this sale can be found here. Insiders have sold 30,057 shares of company stock valued at $5,895,870 over the last ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Oppenheimer increased their price objective on Waste Management from $188.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Jefferies Financial Group raised their price target on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. BMO Capital Markets raised their target price on shares of Waste Management from $184.00 to $196.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. Finally, Truist Financial boosted their price target on shares of Waste Management from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $204.85.

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.