Tennessee Valley Asset Management Partners Reduces Stake in Waste Management, Inc. (NYSE:WM)

Tennessee Valley Asset Management Partners trimmed its stake in Waste Management, Inc. (NYSE:WM) by 19.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,517 shares of the business services provider’s stock after selling 374 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Waste Management were worth $306,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WM. Public Sector Pension Investment Board lifted its stake in Waste Management by 167.1% in the second quarter. Public Sector Pension Investment Board now owns 9,235 shares of the business services provider’s stock worth $1,970,000 after purchasing an additional 5,777 shares during the last quarter. Buck Wealth Strategies LLC lifted its stake in shares of Waste Management by 7.8% during the 2nd quarter. Buck Wealth Strategies LLC now owns 46,890 shares of the business services provider’s stock worth $10,003,000 after acquiring an additional 3,382 shares during the last quarter. Magnolia Capital Advisors LLC grew its position in Waste Management by 145.7% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 3,283 shares of the business services provider’s stock valued at $700,000 after acquiring an additional 1,947 shares during the last quarter. NewEdge Advisors LLC increased its stake in Waste Management by 11.4% in the second quarter. NewEdge Advisors LLC now owns 43,413 shares of the business services provider’s stock worth $9,262,000 after purchasing an additional 4,435 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Waste Management by 106.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 118,794 shares of the business services provider’s stock worth $25,344,000 after purchasing an additional 61,142 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 4th. BMO Capital Markets upped their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Jefferies Financial Group cut their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada increased their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $229.72.

Waste Management Trading Down 0.3 %

Waste Management stock opened at $209.43 on Monday. Waste Management, Inc. has a one year low of $183.00 and a one year high of $230.39. The stock has a market cap of $84.06 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. 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 moving average of $212.64 and a two-hundred day moving average of $211.28.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the business earned $1.63 EPS. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. Waste Management’s payout ratio is currently 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

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.