Cornerstone Planning Group LLC Sells 132 Shares of Waste Management, Inc. (NYSE:WM)

Cornerstone Planning Group LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 44.3% in the third quarter, Holdings Channel.com reports. The fund owned 166 shares of the business services provider’s stock after selling 132 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Waste Management were worth $36,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WM. Empowered Funds LLC boosted its position in Waste Management by 35.3% during the 1st quarter. Empowered Funds LLC now owns 6,859 shares of the business services provider’s stock valued at $1,462,000 after acquiring an additional 1,789 shares in the last quarter. Headlands Technologies LLC bought a new stake in Waste Management during the first quarter valued at about $122,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Waste Management by 17.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 456,940 shares of the business services provider’s stock valued at $97,397,000 after purchasing an additional 67,582 shares during the last quarter. Planning Directions Inc. bought a new position in Waste Management in the first quarter worth about $215,000. Finally, Kingsview Wealth Management LLC lifted its position in shares of Waste Management by 16.3% during the first quarter. Kingsview Wealth Management LLC now owns 10,875 shares of the business services provider’s stock valued at $2,318,000 after buying an additional 1,521 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction dated 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 directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $224.78 on Wednesday. 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, Inc. has a one year low of $168.73 and a one year high of $226.50. The company has a market cap of $90.22 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The business has a fifty day moving average of $210.75 and a two-hundred day moving average of $209.43.

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

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.33%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. William Blair assumed coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Robert W. Baird decreased their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Oppenheimer boosted their target price on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. CIBC increased their price target on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Scotiabank started coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price 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.