McElhenny Sheffield Capital Management LLC Has $569,000 Holdings in Waste Management, Inc. (NYSE:WM)

McElhenny Sheffield Capital Management LLC decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 9.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,743 shares of the business services provider’s stock after selling 281 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in Waste Management were worth $569,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Hexagon Capital Partners LLC grew its position in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the second quarter worth about $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management during the first quarter worth about $35,000. Fairway Wealth LLC increased its stake in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the period. Finally, Fairscale Capital LLC acquired a new stake in Waste Management during the 2nd quarter worth approximately $39,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of Waste Management stock opened at $212.75 on Monday. The company has a market cap of $85.38 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 52 week low of $153.95 and a 52 week high of $225.00. The business has a 50 day moving average price of $208.28 and a 200-day moving average price of $208.45.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s dividend payout ratio is currently 47.69%.

Wall Street Analyst Weigh In

WM has been the subject of several analyst reports. Robert W. Baird dropped their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. CIBC reduced their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Scotiabank initiated coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.