Everence Capital Management Inc. Sells 1,930 Shares of Waste Management, Inc. (NYSE:WM)

Everence Capital Management Inc. decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,134 shares of the business services provider’s stock after selling 1,930 shares during the quarter. Everence Capital Management Inc.’s holdings in Waste Management were worth $2,650,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WM. Fiera Capital Corp raised its holdings in shares of Waste Management by 72.2% during the 2nd quarter. Fiera Capital Corp now owns 2,066 shares of the business services provider’s stock worth $441,000 after buying an additional 866 shares in the last quarter. Founders Financial Securities LLC increased its position in Waste Management by 4.1% during the 2nd quarter. Founders Financial Securities LLC now owns 6,276 shares of the business services provider’s stock worth $1,339,000 after purchasing an additional 250 shares in the last quarter. Simon Quick Advisors LLC bought a new position in Waste Management in the 2nd quarter valued at approximately $219,000. Foundations Investment Advisors LLC boosted its position in Waste Management by 36.0% in the second quarter. Foundations Investment Advisors LLC now owns 2,196 shares of the business services provider’s stock valued at $469,000 after buying an additional 581 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Waste Management by 47.6% during the second quarter. Larson Financial Group LLC now owns 1,812 shares of the business services provider’s stock worth $387,000 after buying an additional 584 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Truist Financial upped their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, CIBC raised their price objective on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Ten equities research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.72.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred 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 owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 0.7 %

Shares of NYSE WM traded up $1.40 during trading on Friday, hitting $201.94. 271,324 shares of the company traded hands, compared to its average volume of 1,024,877. The firm has a market capitalization of $81.05 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 2.36 and a beta of 0.75. The business’s fifty day moving average is $215.82 and its 200 day moving average is $211.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a fifty-two week low of $176.68 and a fifty-two week high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

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.