First Affirmative Financial Network Sells 461 Shares of Waste Management, Inc. (NYSE:WM)

First Affirmative Financial Network trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,830 shares of the business services provider’s stock after selling 461 shares during the period. First Affirmative Financial Network’s holdings in Waste Management were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted 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 valued at $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management during the second quarter worth $31,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management in the 1st quarter valued at $35,000. Fairway Wealth LLC lifted its stake in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Waste Management during the 2nd quarter worth $36,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Scotiabank initiated coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Oppenheimer reduced their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, CIBC reduced their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Twelve investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $218.89.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Up 0.3 %

WM opened at $211.81 on Friday. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00. The company has a market cap of $85.00 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company has a 50 day moving average of $207.37 and a 200 day moving average of $208.45.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.51 earnings per share. On average, sell-side analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The company 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. The ex-dividend date of this dividend 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 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.