Brighton Jones LLC Has $943,000 Holdings in Waste Management, Inc. (NYSE:WM)

Brighton Jones LLC cut its position in shares of Waste Management, Inc. (NYSE:WM) by 28.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,541 shares of the business services provider’s stock after selling 1,843 shares during the quarter. Brighton Jones LLC’s holdings in Waste Management were worth $943,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares during the period. Capital World Investors grew its holdings in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares during the period. Legal & General Group Plc grew its holdings in Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares during the period. International Assets Investment Management LLC grew its holdings in Waste Management by 94,414.4% in the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after purchasing an additional 221,380 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on WM. Oppenheimer reduced their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Truist Financial reduced their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada reduced their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company 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. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Price Performance

Waste Management stock opened at $208.91 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 business’s 50 day simple moving average is $208.70 and its 200 day simple moving average is $208.54. Waste Management, Inc. has a 12 month low of $156.36 and a 12 month high of $225.00. The company has a market cap of $83.84 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.34 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly 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 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 firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 EPS. Sell-side analysts forecast 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. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s payout ratio is 47.69%.

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.