Corundum Group Inc. Has $1.81 Million Stake in Waste Management, Inc. (NYSE:WM)

Corundum Group Inc. raised its position in shares of Waste Management, Inc. (NYSE:WM) by 58.3% during the 4th quarter, according to the company in its most recent 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WM. Activest Wealth Management boosted its holdings in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the period. Global Wealth Strategies & Associates lifted its position in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares in the last quarter. General Partner Inc. acquired a new stake in shares of Waste Management during the 4th quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management during the 2nd quarter valued at $36,000. Finally, Fairscale Capital LLC acquired a new position in shares of Waste Management in the second quarter worth $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.4 %

Shares of NYSE WM opened at $211.79 on Monday. Waste Management, Inc. has a 52-week low of $181.56 and a 52-week high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The business has a fifty day moving average of $213.80 and a two-hundred day moving average of $211.25. The stock has a market cap of $85.01 billion, a PE ratio of 32.38, a PEG ratio of 2.10 and a beta of 0.77.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. As a group, equities research analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 4th. Finally, Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

About Waste Management

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.