Waste Management, Inc. (NYSE:WM) Stock Holdings Cut by Mainsail Financial Group LLC

Mainsail Financial Group LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,458 shares of the business services provider’s stock after selling 391 shares during the period. Mainsail Financial Group LLC’s holdings in Waste Management were worth $946,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WM. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management in the first quarter valued at about $300,594,000. Capital World Investors increased 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 purchasing an additional 1,303,466 shares in the last quarter. Swedbank AB acquired a new stake in Waste Management during the 1st quarter worth $193,955,000. Wulff Hansen & CO. grew its holdings in 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 worth $185,196,000 after acquiring an additional 863,846 shares during the period. Finally, AMF Tjanstepension AB grew its holdings in Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after acquiring an additional 720,358 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on WM. CIBC cut their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Truist Financial dropped their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. BMO Capital Markets cut their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Finally, Robert W. Baird lowered their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Price Performance

Shares of NYSE:WM opened at $211.09 on Wednesday. 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 1-year low of $153.95 and a 1-year high of $225.00. The company has a market capitalization of $84.66 billion, a P/E ratio of 34.55, a P/E/G ratio of 2.38 and a beta of 0.74. The firm’s 50 day simple moving average is $208.59 and its two-hundred day simple moving average is $208.52.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 1.42%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is currently 49.10%.

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.