Waste Management, Inc. (NYSE:WM) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,426 shares of the business services provider’s stock after selling 1,299 shares during the quarter. Captrust Financial Advisors’ holdings in Waste Management were worth $23,755,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Providence Wealth Advisors LLC increased its holdings in Waste Management by 0.4% in the third quarter. Providence Wealth Advisors LLC now owns 18,427 shares of the business services provider’s stock valued at $3,893,000 after buying an additional 75 shares during the last quarter. Peterson Wealth Management raised its position in shares of Waste Management by 29.8% during the 3rd quarter. Peterson Wealth Management now owns 3,987 shares of the business services provider’s stock worth $828,000 after acquiring an additional 915 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its stake in Waste Management by 0.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 246,556 shares of the business services provider’s stock worth $51,185,000 after purchasing an additional 1,684 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Waste Management by 21.7% in the third quarter. Public Sector Pension Investment Board now owns 11,235 shares of the business services provider’s stock valued at $2,332,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Financial Counselors Inc. increased its stake in Waste Management by 3.2% in the third quarter. Financial Counselors Inc. now owns 97,426 shares of the business services provider’s stock valued at $20,226,000 after purchasing an additional 3,031 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE:WM opened at $228.22 on Friday. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $230.39. The company has a 50-day moving average price of $215.17 and a 200 day moving average price of $210.70. The company has a market cap of $91.60 billion, a P/E ratio of 34.90, a PEG ratio of 2.40 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 currently 45.87%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley upped 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. Scotiabank began coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. BMO Capital Markets boosted their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Argus boosted their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $228.94.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

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.