Douglass Winthrop Advisors LLC Sells 309 Shares of Waste Management, Inc. (NYSE:WM)

Douglass Winthrop Advisors LLC trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,099 shares of the business services provider’s stock after selling 309 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Waste Management were worth $9,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Aberdeen Wealth Management LLC grew its holdings in shares of Waste Management by 1.1% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after buying an additional 45 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after buying an additional 46 shares during the period. ARS Wealth Advisors Group LLC raised its stake in shares of Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC raised its position in Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after buying an additional 49 shares during the last quarter. Finally, Balboa Wealth Partners lifted its position in shares of Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $224.41 on Monday. The stock has a market cap of $90.07 billion, a PE ratio of 34.31, a P/E/G ratio of 2.36 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.84. The business’s 50-day moving average price is $212.84 and its two-hundred day moving average price is $210.10.

Waste Management (NYSE:WM) last released its quarterly earnings data 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 business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company earned $1.63 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is presently 45.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. William Blair initiated coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Morgan Stanley raised their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer boosted their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the company’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 sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.