C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.35 Million in Waste Management, Inc. (NYSE:WM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,324 shares of the business services provider’s stock, valued at approximately $1,345,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of Waste Management by 892.9% during the 4th 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 position in shares of Waste Management in the 4th quarter valued at approximately $29,000. Sugar Maple Asset Management LLC acquired a new stake in Waste Management in the 4th quarter worth approximately $35,000. Finally, Pineridge Advisors LLC bought a new stake in Waste Management during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of Waste Management stock opened at $227.42 on Thursday. The firm has a market cap of $91.28 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The firm’s 50-day simple moving average is $211.89 and its 200-day simple moving average is $211.74. Waste Management, Inc. has a twelve month low of $194.20 and a twelve month 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.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their target price on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Scotiabank raised their price target on Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. Raymond James boosted their price objective on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets raised their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.50.

Insider Buying and Selling at Waste Management

In other news, VP Donald J. Smith sold 191 shares of Waste Management stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.22, for a total value of $42,062.02. Following the completion of the transaction, the vice president now owns 6,129 shares in the company, valued at approximately $1,349,728.38. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles C. Boettcher sold 693 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.59, for a total value of $152,868.87. Following the sale, the executive vice president now owns 45,542 shares in the company, valued at approximately $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,055 shares of company stock worth $3,578,340 over the last three months. Company insiders own 0.18% of the company’s stock.

Waste Management 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.