Waste Management, Inc. (NYSE:WM) Shares Sold by Detalus Advisors LLC

Detalus Advisors LLC cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.8% in the third quarter, Holdings Channel.com reports. The fund owned 5,645 shares of the business services provider’s stock after selling 101 shares during the period. Detalus Advisors LLC’s holdings in Waste Management were worth $1,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sustainable Growth Advisers LP acquired a new position in Waste Management during the first quarter worth $300,594,000. Capital World Investors lifted its stake in Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB purchased a new position in Waste Management during the 1st quarter valued at about $193,955,000. Wulff Hansen & CO. grew its position in Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after acquiring an additional 863,846 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its position in shares of Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after purchasing an additional 720,358 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

NYSE:WM traded up $0.26 during trading hours on Wednesday, reaching $211.31. 276,983 shares of the company’s stock were exchanged, compared to its average volume of 1,611,639. Waste Management, Inc. has a 1-year low of $153.95 and a 1-year high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $84.75 billion, a price-to-earnings ratio of 34.55, a P/E/G ratio of 2.38 and a beta of 0.74. The company has a 50-day moving average of $208.59 and a 200 day moving average of $208.52.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 earnings per share. Research analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research reports. Truist Financial dropped their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada cut their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Oppenheimer reduced their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, William Blair initiated coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

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.