Tributary Capital Management LLC Trims Stock Position in Waste Management, Inc. (NYSE:WM)

Tributary Capital Management LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,855 shares of the business services provider’s stock after selling 80 shares during the period. Tributary Capital Management LLC’s holdings in Waste Management were worth $593,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WM. Vicus Capital purchased a new stake in Waste Management in the first quarter valued at $295,000. Trilogy Capital Inc. purchased a new stake in shares of Waste Management in the first quarter valued at about $329,000. Breakwater Capital Group purchased a new stake in shares of Waste Management in the first quarter valued at about $225,000. Compass Ion Advisors LLC purchased a new stake in shares of Waste Management in the first quarter valued at about $236,000. Finally, Diversified Trust Co raised its holdings in shares of Waste Management by 144.1% in the first quarter. Diversified Trust Co now owns 4,271 shares of the business services provider’s stock valued at $911,000 after buying an additional 2,521 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. BMO Capital Markets dropped their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. CIBC dropped their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Scotiabank initiated coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target on the stock. Finally, StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Price Performance

Waste Management stock opened at $206.80 on Monday. Waste Management, Inc. has a 52-week low of $160.90 and a 52-week high of $225.00. The firm has a fifty day moving average of $208.77 and a 200-day moving average of $208.56. The firm has a market capitalization of $82.99 billion, a P/E ratio of 32.88, a PEG ratio of 2.29 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is currently 47.69%.

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.