Rogco LP Sells 528 Shares of Waste Management, Inc. (NYSE:WM)

Rogco LP lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,887 shares of the business services provider’s stock after selling 528 shares during the quarter. Rogco LP’s holdings in Waste Management were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hexagon Capital Partners LLC lifted its holdings in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management during the second quarter valued at about $31,000. Fairway Wealth LLC raised its holdings in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Fairscale Capital LLC bought a new position in Waste Management during the second quarter valued at $39,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the 2nd quarter valued at $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WM shares. Oppenheimer lowered their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Scotiabank started coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Truist Financial reduced their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. William Blair initiated coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Stock Down 1.1 %

Shares of Waste Management stock traded down $2.30 on Thursday, hitting $209.50. The company had a trading volume of 326,425 shares, compared to its average volume of 1,610,075. The firm has a market capitalization of $84.08 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.34 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a twelve month low of $156.36 and a twelve month high of $225.00. The stock has a 50-day moving average of $208.70 and a 200-day moving average of $208.54.

Waste Management (NYSE:WM) last announced 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 company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 EPS. Research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is currently 47.69%.

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.