Waste Management, Inc. (NYSE:WM) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in Waste Management, Inc. (NYSE:WM) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,632 shares of the business services provider’s stock after selling 137 shares during the period. Wedge Capital Management L L P NC’s holdings in Waste Management were worth $3,038,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its position in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management in the first quarter worth $35,000. Fairway Wealth LLC raised its position in 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 buying an additional 66 shares during the period. Finally, Fairscale Capital LLC acquired a new stake in Waste Management during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WM shares. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. CIBC decreased their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Scotiabank began coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Truist Financial cut their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Stock Up 0.1 %

Shares of WM stock opened at $213.79 on Wednesday. The stock has a 50 day moving average of $207.82 and a 200-day moving average of $208.42. The firm has a market cap of $85.75 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $1.51 EPS. On average, equities analysts predict that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is presently 49.10%.

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.