Baldwin Investment Management LLC Reduces Holdings in Waste Management, Inc. (NYSE:WM)

Baldwin Investment Management LLC cut its holdings in Waste Management, Inc. (NYSE:WM) by 6.1% during the 3rd quarter, Holdings Channel reports. The fund owned 11,641 shares of the business services provider’s stock after selling 750 shares during the period. Baldwin Investment Management LLC’s holdings in Waste Management were worth $2,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Waste Management by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 532,819 shares of the business services provider’s stock worth $113,571,000 after purchasing an additional 18,429 shares during the period. Bayesian Capital Management LP purchased a new stake in Waste Management during the 1st quarter valued at $894,000. Ancora Advisors LLC boosted its position in shares of Waste Management by 1.8% during the first quarter. Ancora Advisors LLC now owns 10,721 shares of the business services provider’s stock valued at $2,285,000 after buying an additional 186 shares during the period. iA Global Asset Management Inc. grew its position in Waste Management by 1.7% in the 1st quarter. iA Global Asset Management Inc. now owns 47,288 shares of the business services provider’s stock valued at $10,079,000 after acquiring an additional 785 shares during the last quarter. Finally, WealthPlan Investment Management LLC bought a new position in shares of Waste Management in the first quarter worth about $213,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WM. Morgan Stanley raised their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Scotiabank started coverage on 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. Argus boosted their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Truist Financial upped their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average 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 dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Up 0.8 %

WM opened at $227.45 on Wednesday. The company has a fifty day moving average of $213.68 and a two-hundred day moving average of $210.32. The stock has a market capitalization 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, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $228.52. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last issued its quarterly earnings results 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 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

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

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.