Counterweight Ventures LLC Decreases Stake in Waste Management, Inc. (NYSE:WM)

Counterweight Ventures LLC lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,762 shares of the business services provider’s stock after selling 55 shares during the quarter. Counterweight Ventures LLC’s holdings in Waste Management were worth $1,404,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the period. Capital World Investors raised its stake in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB purchased a new stake in shares of Waste Management in the 1st quarter worth $193,955,000. Wulff Hansen & CO. raised its holdings in shares of Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after acquiring an additional 863,846 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its stake in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after acquiring an additional 720,358 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 0.6 %

Shares of NYSE:WM opened at $217.01 on Tuesday. The firm has a market capitalization of $87.10 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The business’s 50 day moving average price is $211.80 and its 200-day moving average price is $209.78. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $226.84.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. On average, equities research analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.38%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WM. Truist Financial lifted their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Argus raised their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets upped their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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.