Birch Hill Investment Advisors LLC Sells 500 Shares of Waste Management, Inc. (NYSE:WM)

Birch Hill Investment Advisors LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,881 shares of the business services provider’s stock after selling 500 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Waste Management were worth $1,221,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CHICAGO TRUST Co NA raised its position in shares of Waste Management by 7.9% in the 3rd quarter. CHICAGO TRUST Co NA now owns 3,874 shares of the business services provider’s stock valued at $804,000 after acquiring an additional 285 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Waste Management by 14.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,003 shares of the business services provider’s stock valued at $1,039,000 after acquiring an additional 619 shares during the period. Inspire Investing LLC raised its position in shares of Waste Management by 10.9% in the 3rd quarter. Inspire Investing LLC now owns 1,370 shares of the business services provider’s stock valued at $284,000 after acquiring an additional 135 shares during the period. CRA Financial Services LLC raised its position in shares of Waste Management by 4.7% in the 3rd quarter. CRA Financial Services LLC now owns 1,116 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 50 shares during the period. Finally, Atwater Malick LLC raised its position in shares of Waste Management by 0.9% in the 3rd quarter. Atwater Malick LLC now owns 69,127 shares of the business services provider’s stock valued at $14,351,000 after acquiring an additional 601 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada dropped their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Scotiabank assumed coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Truist Financial dropped their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Oppenheimer dropped their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.89.

Waste Management Stock Up 0.3 %

WM opened at $211.81 on Friday. Waste Management, Inc. has a fifty-two week low of $153.95 and a fifty-two week high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a market capitalization of $85.00 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.36 and a beta of 0.74. The stock has a fifty day moving average of $207.37 and a 200-day moving average of $208.45.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. On average, equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is 47.69%.

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.