Royal Fund Management LLC Trims Stake in Waste Management, Inc. (NYSE:WM)

Royal Fund Management LLC cut its position in shares of Waste Management, Inc. (NYSE:WM) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,270 shares of the business services provider’s stock after selling 2,122 shares during the quarter. Waste Management comprises 0.9% of Royal Fund Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Royal Fund Management LLC’s holdings in Waste Management were worth $9,303,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Activest Wealth Management grew its position in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. purchased a new position in shares of Waste Management in the fourth quarter worth $29,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at $35,000. Finally, Fairscale Capital LLC purchased a new position in Waste Management in the 2nd quarter worth about $39,000. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 4th. Oppenheimer upped their price objective on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Truist Financial raised their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, William Blair assumed coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Ten 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.72.

Waste Management Stock Up 0.4 %

NYSE:WM opened at $211.79 on Tuesday. The company has a market cap of $85.01 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. Waste Management, Inc. has a twelve month low of $181.56 and a twelve month high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock has a fifty day simple moving average of $213.80 and a 200-day simple moving average of $211.26.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS 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 business 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 for the quarter was up 7.9% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is 45.87%.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Company 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.