Waste Management, Inc. (NYSE:WM) Position Cut by MAI Capital Management

MAI Capital Management lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 14.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,633 shares of the business services provider’s stock after selling 8,473 shares during the period. MAI Capital Management’s holdings in Waste Management were worth $10,719,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WM. Ameriprise Financial Inc. raised its holdings in Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Capital World Investors lifted its holdings in shares of Waste Management by 44.6% in the first 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 during the period. Legal & General Group Plc boosted its stake in Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after buying an additional 243,900 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after acquiring an additional 2,588,842 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Waste Management by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after acquiring an additional 221,380 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Up 0.2 %

Waste Management stock opened at $218.31 on Tuesday. The company has a market capitalization of $87.62 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.84. The firm’s fifty day simple moving average is $211.80 and its 200-day simple moving average is $209.78. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Analysts Set New Price Targets

WM has been the topic of several recent research reports. CIBC lifted their price objective on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer upped their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Truist Financial lifted their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, UBS Group lifted their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Eleven investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.11.

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.