Waste Management, Inc. (NYSE:WM) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC cut its holdings in Waste Management, Inc. (NYSE:WM) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,829 shares of the business services provider’s stock after selling 104 shares during the quarter. JGP Wealth Management LLC’s holdings in Waste Management were worth $1,833,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WM. ARS Wealth Advisors Group LLC grew its stake in Waste Management by 3.1% during the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after acquiring an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. increased its holdings in shares of Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after acquiring an additional 49 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after buying an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX lifted its holdings in Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 50 shares during the last quarter. Finally, GYL Financial Synergies LLC boosted its stake in shares of Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird dropped their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. BMO Capital Markets decreased their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Truist Financial reduced their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, CIBC lowered their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Stock Performance

Shares of WM stock traded down $0.03 during trading on Friday, reaching $211.21. The company had a trading volume of 259,786 shares, compared to its average volume of 1,639,286. The company has a market capitalization of $84.71 billion, a PE ratio of 34.57, a PEG ratio of 2.37 and a beta of 0.74. The firm’s 50 day simple moving average is $207.28 and its two-hundred day simple moving average is $208.48. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a one year low of $153.95 and a one year high of $225.00.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the company earned $1.51 EPS. Waste Management’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.