Drive Wealth Management LLC Has $403,000 Stake in Waste Management, Inc. (NYSE:WM)

Drive Wealth Management LLC lessened its stake in Waste Management, Inc. (NYSE:WM) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 1,942 shares of the business services provider’s stock after selling 60 shares during the period. Drive Wealth Management LLC’s holdings in Waste Management were worth $403,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management in the 2nd quarter valued at about $31,000. Fairway Wealth LLC grew its stake in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management during the 2nd quarter worth $36,000. Fairscale Capital LLC purchased a new position in shares of Waste Management in the 2nd quarter worth about $39,000. Finally, Hexagon Capital Partners LLC grew its position in 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. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $218.31 on Tuesday. The business has a 50-day simple moving average of $211.80 and a 200 day simple moving average of $209.78. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $226.84. The stock has a market cap of $87.62 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 2.30 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating 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 last year, the firm posted $1.63 earnings per share. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. Waste Management’s dividend payout ratio is presently 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents 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 hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WM. BMO Capital Markets boosted their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their target price on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $226.11.

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.