AMI Asset Management Corp Sells 5,615 Shares of Waste Management, Inc. (NYSE:WM)

AMI Asset Management Corp reduced its stake in Waste Management, Inc. (NYSE:WM) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,014 shares of the business services provider’s stock after selling 5,615 shares during the period. Waste Management accounts for approximately 2.4% of AMI Asset Management Corp’s holdings, making the stock its 18th largest holding. AMI Asset Management Corp owned about 0.05% of Waste Management worth $44,222,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its stake in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the 2nd quarter worth $31,000. Fairway Wealth LLC raised its stake in shares of 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. Fairscale Capital LLC acquired a new stake in shares of Waste Management in the 2nd quarter valued at about $39,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Up 5.2 %

Shares of NYSE:WM opened at $219.11 on Wednesday. Waste Management, Inc. has a 12-month low of $161.60 and a 12-month high of $225.00. The stock has a market cap of $87.93 billion, a PE ratio of 34.83, a P/E/G ratio of 2.29 and a beta of 0.74. The business has a 50 day moving average of $209.03 and a 200-day moving average of $208.67. 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 (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is currently 47.69%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WM shares. Truist Financial dropped their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Royal Bank of Canada dropped their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. William Blair started coverage on Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Robert W. Baird dropped their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Oppenheimer lowered their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

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.