Dakota Wealth Management Reduces Holdings in Waste Management, Inc. (NYSE:WM)

Dakota Wealth Management lowered its position in Waste Management, Inc. (NYSE:WM) by 16.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,814 shares of the business services provider’s stock after selling 13,873 shares during the quarter. Dakota Wealth Management’s holdings in Waste Management were worth $14,909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its position in shares of Waste Management by 10,366.7% in the third quarter. Global Trust Asset Management LLC now owns 314 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 311 shares during the period. Assenagon Asset Management S.A. grew its stake in Waste Management by 1,036.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 115,595 shares of the business services provider’s stock valued at $23,998,000 after buying an additional 105,423 shares in the last quarter. Grimes & Company Inc. bought a new stake in Waste Management during the 3rd quarter valued at $214,000. CENTRAL TRUST Co lifted its position in shares of Waste Management by 0.3% during the third quarter. CENTRAL TRUST Co now owns 25,797 shares of the business services provider’s stock worth $5,355,000 after acquiring an additional 78 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Waste Management by 43.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 18,323 shares of the business services provider’s stock valued at $3,804,000 after purchasing an additional 5,580 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on WM shares. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. CIBC cut their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Royal Bank of Canada decreased 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. Robert W. Baird cut their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Scotiabank started coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Performance

NYSE WM opened at $208.91 on Friday. The company has a 50-day simple moving average of $208.70 and a two-hundred day simple moving average of $208.54. Waste Management, Inc. has a 12-month low of $156.36 and a 12-month high of $225.00. The firm 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. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $1.51 EPS. On average, equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio is currently 47.69%.

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.