Pegasus Partners Ltd. Sells 1,168 Shares of Waste Management, Inc. (NYSE:WM)

Pegasus Partners Ltd. trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,802 shares of the business services provider’s stock after selling 1,168 shares during the period. Pegasus Partners Ltd.’s holdings in Waste Management were worth $789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WM. Trium Capital LLP grew its stake in Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after acquiring an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after purchasing an additional 5,367 shares in the last quarter. Pinkerton Retirement Specialists LLC increased its holdings in shares of Waste Management by 18.6% in the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after purchasing an additional 3,145 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Waste Management by 417.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after buying an additional 2,800 shares in the last quarter. Finally, Swedbank AB boosted its stake in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after buying an additional 709,678 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE:WM opened at $224.08 on Friday. 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 firm has a market cap of $89.94 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.74. The firm’s 50 day simple moving average is $210.21 and its 200-day simple moving average is $209.26. Waste Management, Inc. has a one year low of $168.73 and a one year high of $226.36.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $1.63 EPS. Waste Management’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WM shares. Truist Financial upped their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.11.

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.