Principal Street Partners LLC Has $261,000 Holdings in Waste Management, Inc. (NYSE:WM)

Principal Street Partners LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 61.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,243 shares of the business services provider’s stock after selling 2,011 shares during the period. Principal Street Partners LLC’s holdings in Waste Management were worth $261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Activest Wealth Management raised its stake in Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the 2nd quarter worth approximately $31,000. Fairway Wealth LLC boosted its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Waste Management during the second quarter valued at approximately $36,000. Finally, Fairscale Capital LLC bought a new stake in Waste Management during the second quarter worth $39,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on WM shares. Scotiabank began coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. CIBC lifted their price target on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, UBS Group raised their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Waste Management Stock Performance

NYSE WM opened at $227.45 on Wednesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The company has a fifty day moving average price of $213.68 and a 200-day moving average price of $210.32. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $228.52. The firm has a market cap of $91.29 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.37 and a beta of 0.74.

Waste Management (NYSE:WM) last released its earnings results 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 company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. As a group, equities research analysts predict that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Waste Management 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.