Waste Management, Inc. (NYSE:WM) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its position in Waste Management, Inc. (NYSE:WM) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,882 shares of the business services provider’s stock after selling 63 shares during the quarter. Financial Advocates Investment Management’s holdings in Waste Management were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% in the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the period. Sustainable Growth Advisers LP purchased a new position in Waste Management in the first quarter valued at about $300,594,000. Capital World Investors raised its position in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the period. Swedbank AB purchased a new stake in shares of Waste Management during the first quarter worth about $193,955,000. Finally, Wulff Hansen & CO. increased its position in shares of Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after acquiring an additional 863,846 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WM shares. Oppenheimer lifted their target price on Waste Management from $224.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial lifted their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Morgan Stanley lifted their price target on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.05.

Waste Management Price Performance

Shares of NYSE:WM opened at $213.99 on Friday. Waste Management, Inc. has a one year low of $162.34 and a one year high of $225.00. The stock has a fifty day moving average of $209.34 and a 200-day moving average of $208.83. The company has a market capitalization of $85.89 billion, a PE ratio of 32.72, a price-to-earnings-growth 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 1.03 and a current ratio of 0.89.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS 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 company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced 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 of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.40%. Waste Management’s payout ratio is currently 45.87%.

Waste Management 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.