Waste Management, Inc. (NYSE:WM) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,062 shares of the business services provider’s stock after selling 2,693 shares during the period. Waste Management makes up approximately 1.3% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 8th largest position. Kornitzer Capital Management Inc. KS owned about 0.08% of Waste Management worth $70,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WM. ARS Wealth Advisors Group LLC grew its position in Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after acquiring an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC lifted its stake in Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares during the last quarter. Cypress Asset Management Inc. TX boosted its position in Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after buying an additional 50 shares in the last quarter. GYL Financial Synergies LLC grew its stake in shares of Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after buying an additional 50 shares during the last quarter. Finally, Aries Wealth Management increased its holdings in shares of Waste Management by 0.6% during the second quarter. Aries Wealth Management now owns 8,780 shares of the business services provider’s stock worth $1,873,000 after buying an additional 50 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WM has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial lifted 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. BMO Capital Markets lifted their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Stock Up 0.1 %

Shares of WM traded up $0.28 during trading hours on Thursday, reaching $218.76. The stock had a trading volume of 64,209 shares, compared to its average volume of 1,614,340. The firm has a 50-day simple moving average of $209.76 and a 200 day simple moving average of $209.06. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $225.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $87.80 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.26 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.