Fmr LLC Sells 223,659 Shares of Waste Management, Inc. (NYSE:WM)

Fmr LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 21.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 810,510 shares of the business services provider’s stock after selling 223,659 shares during the quarter. Fmr LLC owned 0.20% of Waste Management worth $168,262,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Wulff Hansen & CO. lifted its stake 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 worth $185,196,000 after acquiring an additional 863,846 shares during the period. Swedbank AB boosted its holdings in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after acquiring an additional 709,678 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Waste Management by 248.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider’s stock valued at $210,092,000 after purchasing an additional 702,188 shares during the period. Finally, Parnassus Investments LLC raised its holdings in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after purchasing an additional 520,096 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $225.13 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock has a market cap of $90.36 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The stock’s fifty day simple moving average is $215.17 and its two-hundred day simple moving average is $210.71. Waste Management, Inc. has a 1-year low of $171.15 and a 1-year high of $230.39.

Waste Management (NYSE:WM) last released its quarterly 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 business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their target price 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. Truist Financial boosted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, William Blair initiated coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $228.94.

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.