Garrison Point Advisors LLC Decreases Stake in Waste Management, Inc. (NYSE:WM)

Garrison Point Advisors LLC lessened its stake in Waste Management, Inc. (NYSE:WM) by 0.8% in the third quarter, HoldingsChannel.com reports. The firm owned 8,475 shares of the business services provider’s stock after selling 70 shares during the quarter. Waste Management accounts for 1.1% of Garrison Point Advisors LLC’s portfolio, making the stock its 25th largest position. Garrison Point Advisors LLC’s holdings in Waste Management were worth $1,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC increased its holdings in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management in the 2nd quarter valued at approximately $31,000. Fairway Wealth LLC raised its holdings in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Waste Management during the second quarter worth $39,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management in the second quarter valued at $36,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $208.91 on Friday. The firm has a market capitalization of $83.84 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. The company has a 50 day moving average price of $208.70 and a 200 day moving average price of $208.54. Waste Management, Inc. has a one year low of $156.36 and a one year high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed 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 1.44%. Waste Management’s dividend payout ratio (DPR) is 47.69%.

Wall Street Analysts Forecast Growth

WM has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Scotiabank began coverage on shares of Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. Royal Bank of Canada cut their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Eleven investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

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.