Asset Dedication LLC Sells 192 Shares of Waste Management, Inc. (NYSE:WM)

Asset Dedication LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 793 shares of the business services provider’s stock after selling 192 shares during the quarter. Asset Dedication LLC’s holdings in Waste Management were worth $160,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management boosted its stake in shares of Waste Management by 4,000.0% during 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. Global Wealth Strategies & Associates increased its position in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. bought a new position in Waste Management during the 4th quarter worth approximately $29,000. Sugar Maple Asset Management LLC bought a new stake in shares of Waste Management in the 4th quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management during the second quarter worth $36,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 1.7 %

Waste Management stock opened at $209.93 on Thursday. The firm has a 50 day moving average price of $212.43 and a 200-day moving average price of $211.29. 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 twelve month low of $184.72 and a twelve month high of $230.39. The company has a market capitalization of $84.26 billion, a P/E ratio of 32.10, a P/E/G ratio of 2.17 and a beta of 0.77.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping 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%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. As a group, equities analysts predict that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 3,875 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank raised shares of Waste Management from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $225.00 to $250.00 in a research report on Monday. Oppenheimer boosted their target price on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.39.

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.