Reynders McVeigh Capital Management LLC Sells 2,014 Shares of Waste Management, Inc. (NYSE:WM)

Reynders McVeigh Capital Management LLC trimmed its stake in Waste Management, Inc. (NYSE:WM) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,931 shares of the business services provider’s stock after selling 2,014 shares during the period. Waste Management comprises about 1.4% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Waste Management were worth $26,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Activest Wealth Management boosted its position in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management during the 2nd quarter valued at about $31,000. Fairway Wealth LLC boosted its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Fairscale Capital LLC bought a new position in Waste Management during the 2nd quarter valued at about $39,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Waste Management during the 2nd quarter valued at about $36,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on WM. Argus lifted their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Sunday. Truist Financial boosted 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. CIBC boosted their target price on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, UBS Group boosted their target price on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $228.94.

Waste Management Stock Down 0.0 %

Waste Management stock opened at $225.01 on Wednesday. The stock has a market capitalization of $90.31 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.37 and a beta of 0.75. Waste Management, Inc. has a twelve month low of $171.15 and a twelve month high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The company has a 50 day moving average of $215.88 and a 200-day moving average of $210.90.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s 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 transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % 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 hyperlink. 0.18% of the stock is owned by insiders.

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.