Waste Management, Inc. (NYSE:WM) Position Reduced by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 5.0% in the third quarter, HoldingsChannel.com reports. The firm owned 3,019 shares of the business services provider’s stock after selling 158 shares during the period. Legacy Capital Group California Inc.’s holdings in Waste Management were worth $627,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. ARS Wealth Advisors Group LLC grew its holdings in Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after acquiring an additional 47 shares during the period. McClarren Financial Advisors Inc. lifted its stake in Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 49 shares during the last quarter. Cypress Asset Management Inc. TX boosted its holdings in Waste Management by 1.2% during the first 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 in the last quarter. GYL Financial Synergies LLC grew its position in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after buying an additional 50 shares during the last quarter. Finally, Aries Wealth Management lifted its position in shares of Waste Management by 0.6% during the 2nd quarter. Aries Wealth Management now owns 8,780 shares of the business services provider’s stock valued at $1,873,000 after acquiring an additional 50 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Down 1.4 %

Shares of NYSE:WM opened at $208.91 on Friday. Waste Management, Inc. has a 1 year low of $156.36 and a 1 year high of $225.00. The firm has a fifty day moving average price of $208.70 and a 200 day moving average price of $208.54. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $83.84 billion, a PE ratio of 33.21, a P/E/G ratio of 2.34 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. The business 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 firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 EPS. Analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WM shares. Oppenheimer cut their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Truist Financial cut their price target 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 note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Finally, StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $218.89.

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.