Mutual Advisors LLC Lowers Stock Position in Waste Management, Inc. (NYSE:WM)

Mutual Advisors LLC lowered its position in Waste Management, Inc. (NYSE:WM) by 1.2% in the fourth quarter, HoldingsChannel reports. The fund owned 10,801 shares of the business services provider’s stock after selling 126 shares during the quarter. Mutual Advisors LLC’s holdings in Waste Management were worth $2,279,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans increased its holdings in Waste Management by 6.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 49,025 shares of the business services provider’s stock worth $10,459,000 after acquiring an additional 2,760 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Waste Management by 167.1% during the 2nd 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. Evergreen Capital Management LLC lifted its stake in Waste Management by 7.5% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,366 shares of the business services provider’s stock valued at $718,000 after buying an additional 235 shares in the last quarter. Insigneo Advisory Services LLC increased its stake in Waste Management by 13.2% during the 2nd quarter. Insigneo Advisory Services LLC now owns 3,361 shares of the business services provider’s stock worth $677,000 after buying an additional 391 shares in the last quarter. Finally, AlTi Global Inc. raised its holdings in shares of Waste Management by 35.6% during the second quarter. AlTi Global Inc. now owns 1,802 shares of the business services provider’s stock valued at $384,000 after acquiring an additional 473 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Waste Management stock opened at $209.96 on Friday. 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 company has a market capitalization of $84.27 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. The company’s 50 day simple moving average is $213.04 and its 200-day simple moving average is $211.29. Waste Management, Inc. has a 1 year low of $183.00 and a 1 year high of $230.39.

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

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given 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 dividend payout ratio is presently 45.87%.

Analyst Upgrades and Downgrades

WM has been the subject of several research reports. Oppenheimer boosted their price target on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. CIBC increased their target price on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Truist Financial boosted their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus increased their price objective on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.72.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction 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 completion of the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

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.