Fisher Asset Management LLC Sells 1,177 Shares of Waste Management, Inc. (NYSE:WM)

Fisher Asset Management LLC lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 15.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,424 shares of the business services provider’s stock after selling 1,177 shares during the quarter. Fisher Asset Management LLC’s holdings in Waste Management were worth $1,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC lifted its position in Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after acquiring an additional 12,664 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Waste Management by 11.1% in the 2nd 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 hedge funds and other institutional investors.

Waste Management Trading Down 0.1 %

NYSE WM opened at $228.22 on Friday. The stock’s 50 day moving average is $215.17 and its 200 day moving average is $210.69. 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 has a market capitalization of $91.60 billion, a PE ratio of 34.90, a P/E/G ratio of 2.40 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $230.39.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm earned $1.63 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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 issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. Waste Management’s payout ratio is 45.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WM shares. Truist Financial lifted their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer raised their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. William Blair started coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Argus raised their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $228.94.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s 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 sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.