Robertson Stephens Wealth Management LLC Has $1.92 Million Stake in Waste Management, Inc. (NYSE:WM)

Robertson Stephens Wealth Management LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 15.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,507 shares of the business services provider’s stock after selling 1,708 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Waste Management were worth $1,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. lifted its holdings in Waste Management by 286.2% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 421 shares of the business services provider’s stock worth $85,000 after acquiring an additional 312 shares in the last quarter. Choreo LLC lifted its holdings in shares of Waste Management by 13.6% during the 4th quarter. Choreo LLC now owns 20,758 shares of the business services provider’s stock valued at $4,195,000 after purchasing an additional 2,486 shares in the last quarter. Country Club Bank grew its position in shares of Waste Management by 2.2% in the 4th quarter. Country Club Bank now owns 4,726 shares of the business services provider’s stock valued at $956,000 after purchasing an additional 100 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Waste Management by 4.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,176 shares of the business services provider’s stock worth $10,604,000 after purchasing an additional 2,205 shares in the last quarter. Finally, Jericho Financial LLP acquired a new stake in Waste Management during the 4th quarter worth approximately $4,411,000. Institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price target on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Argus upped their price objective on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James boosted their target price on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, Citigroup raised their price target on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.50.

Insiders Place Their Bets

In other news, VP Donald J. Smith sold 191 shares of Waste Management stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the completion of the sale, the vice president now owns 6,129 shares of the company’s stock, valued at approximately $1,349,728.38. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John A. Carroll sold 209 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the completion of the transaction, the chief accounting officer now owns 9,066 shares in the company, valued at $1,999,506.30. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,055 shares of company stock worth $2,674,780 over the last three months. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

NYSE:WM opened at $224.77 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12-month low of $187.48 and a 12-month high of $230.39. The stock’s 50 day moving average price is $211.98 and its two-hundred day moving average price is $211.34. The firm has a market capitalization of $90.22 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 2.57 and a beta of 0.78.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. On average, analysts anticipate that Waste Management, Inc. will post 7.92 earnings per share for the current 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 paid 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 1.33%. Waste Management’s dividend payout ratio (DPR) is currently 44.12%.

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.