Blodgett Wealth Advisors LLC Reduces Stock Holdings in Waste Management, Inc. (NYSE:WM)

Blodgett Wealth Advisors LLC cut its position in shares of Waste Management, Inc. (NYSE:WM) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,811 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Waste Management makes up 1.4% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 14th largest position. Blodgett Wealth Advisors LLC’s holdings in Waste Management were worth $1,622,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WM. Hexagon Capital Partners LLC boosted its holdings in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Waste Management during the 2nd quarter worth about $31,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Fairscale Capital LLC acquired a new position in Waste Management during the 2nd quarter worth $39,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Waste Management in the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.3 %

Shares of NYSE WM traded down $0.72 on Tuesday, hitting $211.10. The company had a trading volume of 585,799 shares, compared to its average volume of 1,616,660. The firm has a market capitalization of $84.72 billion, a P/E ratio of 33.68, a PEG ratio of 2.38 and a beta of 0.74. The business has a 50 day moving average of $208.45 and a two-hundred day moving average of $208.49. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12-month low of $153.95 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm earned $1.51 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is currently 47.69%.

Analyst Ratings Changes

WM has been the topic of a number of research reports. Oppenheimer cut their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird decreased their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Scotiabank started coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. Finally, Truist Financial decreased their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $218.89.

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.