Sound Income Strategies LLC Trims Stake in Waste Management, Inc. (NYSE:WM)

Sound Income Strategies LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 47.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 571 shares of the business services provider’s stock after selling 520 shares during the period. Sound Income Strategies LLC’s holdings in Waste Management were worth $115,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Activest Wealth Management boosted its stake in Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares during the last quarter. General Partner Inc. purchased a new stake in shares of Waste Management in the 4th quarter worth approximately $29,000. Sugar Maple Asset Management LLC bought a new position in Waste Management during the 4th quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Waste Management during the second quarter valued at $36,000. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s 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 transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of several recent analyst reports. UBS Group lifted their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. William Blair assumed coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Truist Financial upped their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price target on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley increased their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $229.72.

Waste Management Stock Performance

Shares of NYSE:WM opened at $209.43 on Friday. The firm has a fifty day simple moving average of $212.64 and a two-hundred day simple moving average of $211.27. Waste Management, Inc. has a 52 week low of $183.00 and a 52 week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $84.06 billion, a P/E ratio of 32.02, a PEG ratio of 2.17 and a beta of 0.77.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. On average, analysts expect 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, December 20th. Investors of record on Friday, December 6th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. Waste Management’s dividend payout ratio is presently 45.87%.

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.