Waste Management, Inc. (NYSE:WM) Shares Sold by Smith Salley Wealth Management

Smith Salley Wealth Management lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,011 shares of the business services provider’s stock after selling 376 shares during the quarter. Smith Salley Wealth Management’s holdings in Waste Management were worth $809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates raised its holdings in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. General Partner Inc. purchased a new position in shares of Waste Management during the 4th quarter worth $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management in the second quarter valued at $36,000. Finally, Fairscale Capital LLC acquired a new position in Waste Management in the second quarter valued at $39,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

WM stock opened at $211.79 on Monday. The firm has a market cap of $85.01 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. Waste Management, Inc. has a 1 year low of $181.56 and a 1 year high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a 50-day simple moving average of $213.80 and a 200-day simple moving average of $211.25.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 earnings per share. On average, equities analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WM has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Argus upped their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer upped their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. UBS Group upped their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, CIBC upped their price target on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.72.

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.