Seamount Financial Group Inc. Sells 100 Shares of Waste Management, Inc. (NYSE:WM)

Seamount Financial Group Inc. cut its position in shares of Waste Management, Inc. (NYSE:WM) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,720 shares of the business services provider’s stock after selling 100 shares during the quarter. Seamount Financial Group Inc.’s holdings in Waste Management were worth $772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Wellington Management Group LLP grew its position in shares of Waste Management by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after buying an additional 48,549 shares during the period. Park Avenue Securities LLC boosted its stake in Waste Management by 12.3% during the first quarter. Park Avenue Securities LLC now owns 4,478 shares of the business services provider’s stock worth $955,000 after acquiring an additional 492 shares in the last quarter. &PARTNERS purchased a new stake in Waste Management in the first quarter worth about $442,000. Opal Wealth Advisors LLC bought a new position in shares of Waste Management during the first quarter valued at approximately $35,000. Finally, Ballentine Partners LLC boosted its position in shares of Waste Management by 2.0% in the 1st quarter. Ballentine Partners LLC now owns 9,720 shares of the business services provider’s stock worth $2,072,000 after purchasing an additional 195 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

WM opened at $212.75 on Friday. The company’s 50 day moving average is $208.28 and its 200 day moving average is $208.47. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company has a market cap of $85.33 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 2.39 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $153.95 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 EPS. On average, equities research analysts predict that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Analyst Upgrades and Downgrades

WM has been the subject of a number of analyst reports. CIBC reduced their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Scotiabank started coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. BMO Capital Markets cut their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $218.89.

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.