40,273 Waste Management, Inc. $WM Shares Sold by Investment House LLC

Investment House LLC lessened its stake in Waste Management, Inc. (NYSE:WM) by 30.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,323 shares of the business services provider’s stock after selling 40,273 shares during the quarter. Waste Management comprises approximately 0.8% of Investment House LLC’s holdings, making the stock its 24th biggest holding. Investment House LLC’s holdings in Waste Management were worth $18,419,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Physician Wealth Advisors Inc. increased its holdings in shares of Waste Management by 10.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock worth $111,000 after buying an additional 45 shares during the last quarter. Cornerstone Advisory LLC boosted its holdings in Waste Management by 1.6% in the first quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider’s stock valued at $683,000 after acquiring an additional 46 shares during the last quarter. Magnus Financial Group LLC boosted its holdings in Waste Management by 0.9% in the third quarter. Magnus Financial Group LLC now owns 5,267 shares of the business services provider’s stock valued at $1,074,000 after acquiring an additional 46 shares during the last quarter. Sound Income Strategies LLC grew its position in Waste Management by 7.2% during the first quarter. Sound Income Strategies LLC now owns 713 shares of the business services provider’s stock valued at $165,000 after acquiring an additional 48 shares during the period. Finally, Rockland Trust Co. grew its position in Waste Management by 3.4% during the second quarter. Rockland Trust Co. now owns 1,493 shares of the business services provider’s stock valued at $333,000 after acquiring an additional 49 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Up 4.0%

Shares of Waste Management stock opened at $238.67 on Friday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The stock has a market cap of $95.40 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 2.93 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The company has a fifty day moving average price of $216.58 and a 200 day moving average price of $222.21.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%. The company had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company posted $1.92 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Waste Management, Inc. will post 8.09 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.9450 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is 53.54%.

Insider Activity

In related news, CAO John Carroll sold 1,365 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total transaction of $300,163.50. Following the sale, the chief accounting officer directly owned 3,509 shares in the company, valued at approximately $771,629.10. This trade represents a 28.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays upped their price target on Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. reduced their price objective on Waste Management from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Weiss Ratings upgraded Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Scotiabank increased their target price on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada raised their price target on shares of Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $256.06.

About Waste Management

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.