TRUE Private Wealth Advisors Reduces Stake in Waste Management, Inc. (NYSE:WM)

TRUE Private Wealth Advisors lowered its position in Waste Management, Inc. (NYSE:WM) by 60.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 985 shares of the business services provider’s stock after selling 1,513 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Waste Management were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WM. Activest Wealth Management increased its holdings in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Waste Management in the 2nd quarter worth approximately $31,000. Fairway Wealth LLC boosted its stake in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter valued at $36,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Waste Management during the 2nd quarter worth $39,000. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Trading Down 0.1 %

Shares of NYSE:WM opened at $228.22 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $230.39. The business has a 50 day moving average of $215.17 and a two-hundred day moving average of $210.70. The company has a market capitalization of $91.60 billion, a PE ratio of 34.90, a PEG ratio of 2.40 and a beta of 0.74.

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

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.31%. Waste Management’s payout ratio is currently 45.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WM shares. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Scotiabank assumed coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. William Blair began coverage on Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. BMO Capital Markets lifted their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Argus upped their price target on shares of 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $228.94.

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.