Waste Management, Inc. (NYSE:WM) Shares Sold by Quarry LP

Quarry LP reduced its position in Waste Management, Inc. (NYSE:WM) by 38.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 419 shares of the business services provider’s stock after selling 264 shares during the period. Quarry LP’s holdings in Waste Management were worth $87,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the period. Fairway Wealth LLC increased its position in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the 2nd quarter worth $36,000. Fairscale Capital LLC purchased a new position in Waste Management in the second quarter valued at about $39,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $222.19 on Friday. The company has a 50-day moving average price of $216.94 and a two-hundred day moving average price of $211.21. Waste Management, Inc. has a 52 week low of $171.15 and a 52 week high of $230.39. The stock has a market cap of $89.18 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.38 and a beta of 0.75. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $1.63 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Analysts Set New Price Targets

Several equities research analysts recently commented on WM shares. Morgan Stanley raised their target price on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group lifted their target price on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, William Blair assumed coverage on Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.33.

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.