Crossmark Global Holdings Inc. Trims Holdings in Waste Management, Inc. (NYSE:WM)

Crossmark Global Holdings Inc. reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,404 shares of the business services provider’s stock after selling 7,619 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Waste Management were worth $12,332,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WM. Empowered Funds LLC raised its position in Waste Management by 35.3% during the first quarter. Empowered Funds LLC now owns 6,859 shares of the business services provider’s stock valued at $1,462,000 after acquiring an additional 1,789 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Waste Management by 19.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,908 shares of the business services provider’s stock valued at $1,686,000 after purchasing an additional 1,274 shares during the period. TCI Wealth Advisors Inc. acquired a new stake in Waste Management in the first quarter valued at approximately $202,000. Atomi Financial Group Inc. grew its holdings in Waste Management by 102.4% in the first quarter. Atomi Financial Group Inc. now owns 4,670 shares of the business services provider’s stock valued at $995,000 after purchasing an additional 2,363 shares during the period. Finally, Stonebrook Private Inc. acquired a new stake in Waste Management in the first quarter valued at approximately $202,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 1.7 %

NYSE:WM traded up $3.68 on Friday, reaching $224.12. The company’s stock had a trading volume of 1,854,171 shares, compared to its average volume of 1,366,246. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.36. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm has a market cap of $89.96 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The stock has a 50 day moving average price of $210.21 and a 200 day moving average price of $209.26.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. On average, equities analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors 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 annualized dividend and a dividend yield of 1.34%. Waste Management’s dividend payout ratio is presently 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction 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 sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

WM has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. CIBC lifted their price target on Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

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.