Solidarity Wealth LLC Sells 3,395 Shares of Waste Management, Inc. (NYSE:WM)

Solidarity Wealth LLC trimmed its stake in shares of Waste Management, Inc. (NYSE:WM) by 41.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,844 shares of the business services provider’s stock after selling 3,395 shares during the period. Solidarity Wealth LLC’s holdings in Waste Management were worth $1,006,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in Waste Management by 170.5% during 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 in the last quarter. Norden Group LLC bought a new stake in Waste Management in the first quarter worth $7,146,000. Kovack Advisors Inc. raised its stake in Waste Management by 2.8% during the first quarter. Kovack Advisors Inc. now owns 5,606 shares of the business services provider’s stock valued at $1,195,000 after purchasing an additional 152 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in Waste Management by 5.4% during the first quarter. First Trust Direct Indexing L.P. now owns 12,360 shares of the business services provider’s stock valued at $2,635,000 after purchasing an additional 634 shares during the last quarter. Finally, Everett Harris & Co. CA grew its stake in shares of Waste Management by 10.5% in the 1st quarter. Everett Harris & Co. CA now owns 1,477 shares of the business services provider’s stock worth $315,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $214.95 on Thursday. The firm has a market cap of $86.26 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $162.03 and a 52-week high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company’s 50 day moving average is $209.14 and its 200 day moving average is $208.72.

Waste Management (NYSE:WM) last announced its earnings results 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 firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS 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 dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. Waste Management’s payout ratio is currently 45.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada raised their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.28.

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.