Financial Advocates Investment Management Has $806,000 Stake in Waste Management, Inc. (NYSE:WM)

Financial Advocates Investment Management trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Trium Capital LLP increased its position in Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after buying an additional 3,029 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 5,367 shares during the period. Pinkerton Retirement Specialists LLC boosted its holdings in Waste Management by 18.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock valued at $4,284,000 after acquiring an additional 3,145 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Waste Management by 417.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock valued at $720,000 after acquiring an additional 2,800 shares during the period. Finally, Swedbank AB boosted its holdings in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after acquiring an additional 709,678 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on WM. CIBC upped their price target on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday. Scotiabank assumed coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target on the stock. Morgan Stanley raised their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial boosted their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Argus raised their target price on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.05.

Waste Management Price Performance

Shares of Waste Management stock opened at $213.99 on Friday. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $85.89 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $162.34 and a 1-year high of $225.00. The firm’s 50-day moving average price is $209.34 and its two-hundred day moving average price is $208.83.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business earned $1.63 earnings per share. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given 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 1.40%. Waste Management’s payout ratio is 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.