Blodgett Wealth Advisors LLC Sells 1,000 Shares of Waste Management, Inc. (NYSE:WM)

Blodgett Wealth Advisors LLC lessened its holdings in Waste Management, Inc. (NYSE:WM) by 11.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,811 shares of the business services provider’s stock after selling 1,000 shares during the period. Waste Management makes up 1.4% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 14th biggest position. Blodgett Wealth Advisors LLC’s holdings in Waste Management were worth $1,622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its stake in shares of Waste Management by 170.5% in the first 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 last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management during the 2nd quarter valued at about $31,000. Fairway Wealth LLC boosted its position in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management in the second quarter worth $36,000. Finally, Fairscale Capital LLC bought a new stake in Waste Management during the second quarter worth $39,000. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer dropped their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Truist Financial lowered 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. Scotiabank started coverage on shares of Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Finally, BMO Capital Markets dropped their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Trading Down 0.3 %

Waste Management stock traded down $0.72 during trading hours on Tuesday, hitting $211.10. The company had a trading volume of 585,799 shares, compared to its average volume of 1,616,660. The firm has a market cap of $84.72 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.38 and a beta of 0.74. The company has a 50-day moving average price of $208.45 and a two-hundred day moving average price of $208.49. Waste Management, Inc. has a 1 year low of $153.95 and a 1 year 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.

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, meeting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion during 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%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

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