Waste Management, Inc. (NYSE:WM) Shares Sold by Edge Wealth Management LLC

Edge Wealth Management LLC lowered its position in Waste Management, Inc. (NYSE:WM) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,204 shares of the business services provider’s stock after selling 115 shares during the period. Waste Management makes up about 3.3% of Edge Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Edge Wealth Management LLC’s holdings in Waste Management were worth $16,235,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Waste Management in the 2nd quarter worth $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management in the first quarter valued at about $35,000. Fairway Wealth LLC grew 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Waste Management during the 2nd quarter worth $36,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WM. Robert W. Baird cut their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Truist Financial reduced their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. CIBC decreased their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Scotiabank assumed coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Finally, Oppenheimer dropped their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Performance

NYSE:WM traded up $0.29 during mid-day trading on Tuesday, hitting $213.79. 1,180,350 shares of the stock were exchanged, compared to its average volume of 1,637,178. Waste Management, Inc. has a fifty-two week low of $153.95 and a fifty-two week 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. The firm’s 50-day simple moving average is $207.60 and its 200 day simple moving average is $208.42. The stock has a market capitalization of $85.75 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74.

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, meeting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion for 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%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.51 earnings per share. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.40%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

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.