Aviso Wealth Management Decreases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Aviso Wealth Management trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 19.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,525 shares of the business services provider’s stock after selling 362 shares during the quarter. Aviso Wealth Management’s holdings in Waste Management were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WM. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Waste Management by 3.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after buying an additional 46 shares in the last quarter. ARS Wealth Advisors Group LLC raised its position in shares of Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC raised its position in shares of Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares during the last quarter. Balboa Wealth Partners raised its position in Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after buying an additional 49 shares during the last quarter. Finally, Cypress Asset Management Inc. TX raised its position in Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after buying an additional 50 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $217.90 on Monday. The firm has a market capitalization of $87.46 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $226.84. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm’s 50 day moving average is $211.61 and its two-hundred day moving average is $209.71.

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

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

WM has been the subject of several recent research reports. Robert W. Baird cut their target price 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. Scotiabank assumed coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target on the stock. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Morgan Stanley increased their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $226.11.

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.