Waste Management, Inc. (NYSE:WM) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,915 shares of the business services provider’s stock after selling 10,001 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Waste Management were worth $41,087,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WM. Activest Wealth Management increased its holdings in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management in the second quarter valued at approximately $31,000. Fairway Wealth LLC increased its holdings in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the period. Fairscale Capital LLC acquired a new stake in Waste Management during the 2nd quarter valued at approximately $39,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management in the 2nd quarter valued at $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Down 0.1 %

Shares of WM stock opened at $228.22 on Friday. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock’s fifty day moving average is $215.17 and its two-hundred day moving average is $210.69. The firm has a market capitalization of $91.60 billion, a P/E ratio of 34.90, a PEG ratio of 2.40 and a beta of 0.74.

Waste Management (NYSE:WM) last posted 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. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. Waste Management’s payout ratio is 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WM shares. Oppenheimer boosted their target price on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Truist Financial raised 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. Argus boosted their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Morgan Stanley lifted their target price on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.94.

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.