SteelPeak Wealth LLC Sells 264 Shares of Waste Management, Inc. (NYSE:WM)

SteelPeak Wealth LLC reduced its position in Waste Management, Inc. (NYSE:WMFree Report) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,864 shares of the business services provider’s stock after selling 264 shares during the period. SteelPeak Wealth LLC’s holdings in Waste Management were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in WM. Sunbelt Securities Inc. lifted its holdings in Waste Management by 9.5% during the second quarter. Sunbelt Securities Inc. now owns 826 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 72 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Waste Management by 50.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 13,766 shares of the business services provider’s stock valued at $2,937,000 after buying an additional 4,628 shares in the last quarter. Advisory Alpha LLC boosted its holdings in Waste Management by 7.6% in the 2nd quarter. Advisory Alpha LLC now owns 5,065 shares of the business services provider’s stock worth $1,081,000 after buying an additional 358 shares during the period. Granite Bay Wealth Management LLC purchased a new position in Waste Management in the 2nd quarter valued at approximately $853,000. Finally, 3Chopt Investment Partners LLC bought a new stake in Waste Management during the 2nd quarter valued at $332,000. 80.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WM. UBS Group raised their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Scotiabank upgraded Waste Management from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $225.00 to $250.00 in a research report on Monday. Argus boosted their price objective on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lowered their target price on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $231.39.

View Our Latest Stock Analysis on WM

Waste Management Trading Down 1.7 %

Shares of WM opened at $209.93 on Thursday. 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 $184.72 and a fifty-two week high of $230.39. The firm has a 50 day moving average price of $212.43 and a 200-day moving average price of $211.29. The firm has a market cap of $84.26 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.17 and a beta of 0.77.

Waste Management (NYSE:WMGet Free Report) last announced 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. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $1.63 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.75 dividend. 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 1.43%. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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