Independent Solutions Wealth Management LLC Decreases Stock Position in Waste Management, Inc. (NYSE:WM)

Independent Solutions Wealth Management LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,952 shares of the business services provider’s stock after selling 144 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Waste Management were worth $405,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Waste Management by 2.1% in the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after purchasing an additional 168,818 shares during the period. Parnassus Investments LLC lifted its holdings in Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after acquiring an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares during the last quarter. Legal & General Group Plc boosted its holdings in Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after buying an additional 243,900 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Waste Management by 94,414.4% in 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 buying an additional 2,588,842 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction dated 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 transaction, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

WM has been the topic of several recent analyst reports. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $230.72.

Waste Management Trading Up 0.5 %

Shares of NYSE:WM traded up $0.93 during midday trading on Thursday, reaching $206.36. The company’s stock had a trading volume of 947,311 shares, compared to its average volume of 1,617,697. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a fifty-two week low of $175.62 and a fifty-two week high of $230.39. The firm has a 50 day moving average price of $217.65 and a two-hundred day moving average price of $211.47. The firm has a market capitalization of $82.83 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 2.36 and a beta of 0.75.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

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.