GLOBALT Investments LLC GA Reduces Stock Position in Waste Management, Inc. (NYSE:WM)

GLOBALT Investments LLC GA lessened its holdings in Waste Management, Inc. (NYSE:WM) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,860 shares of the business services provider’s stock after selling 1,586 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Waste Management were worth $8,898,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Patten & Patten Inc. TN acquired a new stake in Waste Management in the first quarter valued at about $211,000. Trustmark National Bank Trust Department lifted its position in shares of Waste Management by 3.4% during the 1st quarter. Trustmark National Bank Trust Department now owns 1,802 shares of the business services provider’s stock valued at $384,000 after acquiring an additional 60 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of Waste Management by 193.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,944 shares of the business services provider’s stock valued at $2,120,000 after acquiring an additional 6,558 shares during the period. Arjuna Capital increased its stake in shares of Waste Management by 17.3% during the 1st quarter. Arjuna Capital now owns 15,128 shares of the business services provider’s stock worth $3,225,000 after purchasing an additional 2,231 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its stake in shares of Waste Management by 83.0% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,525 shares of the business services provider’s stock worth $751,000 after purchasing an additional 1,599 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 1.7 %

Waste Management stock opened at $217.90 on Monday. The firm has a market cap of $87.46 billion, a PE ratio of 33.32, a P/E/G ratio of 2.30 and a beta of 0.74. 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’s 50 day moving average price is $211.61 and its two-hundred day moving average price is $209.71. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on WM shares. William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Truist Financial lifted their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird lowered their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Morgan Stanley lifted their price target 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. Finally, StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.