abrdn plc Sells 41,037 Shares of Waste Management, Inc. (NYSE:WM)

abrdn plc lessened its stake in Waste Management, Inc. (NYSE:WM) by 6.7% during the third quarter, HoldingsChannel reports. The firm owned 569,839 shares of the business services provider’s stock after selling 41,037 shares during the period. abrdn plc’s holdings in Waste Management were worth $117,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Sustainable Growth Advisers LP purchased a new position in Waste Management in the 1st quarter valued at approximately $300,594,000. Capital World Investors grew its stake in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Swedbank AB purchased a new position in shares of Waste Management during the 1st quarter valued at $193,955,000. Finally, Wulff Hansen & CO. grew its position in shares of Waste Management by 20,402.6% during the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on WM. BMO Capital Markets reduced their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Robert W. Baird reduced 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 report on Friday, July 26th. 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. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Finally, Scotiabank initiated coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. Eleven investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Performance

Shares of NYSE:WM opened at $208.32 on Tuesday. The company has a market cap of $83.60 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The company has a 50-day moving average price of $208.81 and a 200-day moving average price of $208.58. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12 month low of $161.60 and a 12 month high of $225.00.

Waste Management Announces Dividend

The company also recently disclosed 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. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 47.69%.

Waste Management Company 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.