Sterling Investment Management LLC Sells 389 Shares of Waste Management, Inc. (NYSE:WM)

Sterling Investment Management LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,625 shares of the business services provider’s stock after selling 389 shares during the quarter. Waste Management makes up approximately 1.0% of Sterling Investment Management LLC’s investment portfolio, making the stock its 29th largest position. Sterling Investment Management LLC’s holdings in Waste Management were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Waste Management by 18.4% in the fourth quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock valued at $55,990,000 after acquiring an additional 48,549 shares in the last quarter. Trium Capital LLP boosted its position in shares of Waste Management by 33.6% in the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after purchasing an additional 3,029 shares in the last quarter. Pinkerton Retirement Specialists LLC grew its stake in Waste Management by 18.6% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after buying an additional 3,145 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Waste Management by 8.8% in the first quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock valued at $161,000 after buying an additional 61 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in Waste Management in the first quarter worth about $7,146,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Down 0.2 %

Shares of NYSE:WM opened at $212.75 on Monday. The firm has a market capitalization of $85.38 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. The business’s 50 day moving average price is $208.28 and its 200-day moving average price is $208.45. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a 1 year low of $153.95 and a 1 year high of $225.00.

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

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management’s payout ratio is currently 47.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Robert W. Baird decreased their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Truist Financial cut their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada lowered their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Finally, William Blair initiated coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

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.