Catalytic Wealth RIA LLC Trims Stake in Waste Management, Inc. (NYSE:WM)

Catalytic Wealth RIA LLC reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,301 shares of the business services provider’s stock after selling 77 shares during the period. Catalytic Wealth RIA LLC’s holdings in Waste Management were worth $478,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management during the 2nd quarter valued at $31,000. Fairway Wealth LLC lifted 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 during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management during the 2nd quarter worth $36,000. Fairscale Capital LLC bought a new stake in shares of Waste Management during the 2nd quarter worth $39,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after acquiring an additional 80 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 of the company’s stock, valued at $834,946.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Waste Management Price Performance

Shares of NYSE WM opened at $223.60 on Tuesday. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $226.50. The company has a 50 day simple moving average of $210.21 and a two-hundred day simple moving average of $209.25. The company has a market capitalization of $89.75 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.36 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

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

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WM shares. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer boosted their price target on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. CIBC boosted their price target 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. Truist Financial boosted their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.11.

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.