Global Retirement Partners LLC Cuts Holdings in Waste Management, Inc. (NYSE:WM)

Global Retirement Partners LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,374 shares of the business services provider’s stock after selling 345 shares during the period. Global Retirement Partners LLC’s holdings in Waste Management were worth $4,852,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WM. Hexagon Capital Partners LLC grew its holdings in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management in the 2nd quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management in the 1st quarter worth approximately $35,000. Fairway Wealth LLC grew its holdings in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the period. Finally, Fairscale Capital LLC acquired a new stake in shares of Waste Management in the 2nd quarter worth approximately $39,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Down 0.0 %

Shares of WM opened at $213.08 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $85.51 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The stock’s fifty day simple moving average is $208.13 and its 200 day simple moving average is $208.49. Waste Management, Inc. has a twelve month low of $153.95 and a twelve month high of $225.00.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 47.69%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WM shares. BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada lowered their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Truist Financial lowered their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Robert W. Baird lowered their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Scotiabank started coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

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.