Rise Advisors LLC Trims Position in Waste Management, Inc. (NYSE:WM)

Rise Advisors LLC decreased its holdings in Waste Management, Inc. (NYSE:WM) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,920 shares of the business services provider’s stock after selling 119 shares during the quarter. Rise Advisors LLC’s holdings in Waste Management were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aberdeen Wealth Management LLC boosted its position in shares of Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its position in Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 46 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its stake in Waste Management by 1.9% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after acquiring an additional 49 shares in the last quarter. Balboa Wealth Partners grew its holdings in Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after purchasing an additional 49 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Waste Management by 3.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,380 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 50 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on WM shares. Truist Financial raised their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. CIBC upped their target price on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, UBS Group raised their price target on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.72.

Waste Management Price Performance

NYSE WM traded up $1.33 during trading hours on Tuesday, reaching $203.09. The company’s stock had a trading volume of 633,662 shares, compared to its average volume of 1,221,740. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1 year low of $176.68 and a 1 year high of $230.39. The firm’s 50-day moving average price is $215.58 and its 200-day moving average price is $211.49. The company has a market capitalization of $81.51 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 2.36 and a beta of 0.77.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share 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 analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $1.63 earnings per share. On average, equities research analysts predict that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

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.