Cornerstone Planning Group LLC Sells 132 Shares of Waste Management, Inc. (NYSE:WM)

Cornerstone Planning Group LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 44.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 166 shares of the business services provider’s stock after selling 132 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Waste Management were worth $36,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter worth approximately $31,000. Fairway Wealth LLC boosted its holdings in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the 2nd quarter worth $36,000. Fairscale Capital LLC purchased a new stake in shares of Waste Management in the 2nd quarter worth about $39,000. Finally, Hexagon Capital Partners LLC increased its position in shares of Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after buying an additional 80 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WM. Argus lifted their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. UBS Group raised 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. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Trading Up 0.5 %

Waste Management stock opened at $224.78 on Wednesday. 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 company has a market cap of $90.22 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.36 and a beta of 0.74. The business has a 50-day simple moving average of $210.75 and a two-hundred day simple moving average of $209.43. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $226.50.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid 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 1.33%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

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.