Sequoia Financial Advisors LLC Acquires 15,285 Shares of Waste Management, Inc. (NYSE:WM)

Sequoia Financial Advisors LLC lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,725 shares of the business services provider’s stock after purchasing an additional 15,285 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Waste Management were worth $34,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Argus Investors Counsel Inc. raised its stake in Waste Management by 7.5% in the third quarter. Argus Investors Counsel Inc. now owns 2,040 shares of the business services provider’s stock valued at $423,000 after purchasing an additional 142 shares in the last quarter. Sky Investment Group LLC acquired a new position in shares of Waste Management in the 3rd quarter valued at approximately $1,366,000. Foundations Investment Advisors LLC lifted its holdings in shares of Waste Management by 31.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 2,893 shares of the business services provider’s stock worth $601,000 after acquiring an additional 697 shares during the period. Ledyard National Bank boosted its position in shares of Waste Management by 10.8% during the 3rd quarter. Ledyard National Bank now owns 2,308 shares of the business services provider’s stock worth $479,000 after acquiring an additional 225 shares in the last quarter. Finally, Community Financial Services Group LLC raised its position in Waste Management by 2.1% during the third quarter. Community Financial Services Group LLC now owns 20,341 shares of the business services provider’s stock valued at $4,223,000 after purchasing an additional 418 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WM. Oppenheimer decreased their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Truist Financial lowered their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. BMO Capital Markets reduced their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, William Blair assumed coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Eleven equities 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.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $218.89.

Waste Management Trading Down 0.5 %

NYSE:WM traded down $1.14 on Tuesday, reaching $210.68. 198,219 shares of the stock traded hands, compared to its average volume of 1,614,760. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 1-year low of $153.95 and a 1-year high of $225.00. The company’s 50 day moving average is $208.45 and its 200-day moving average is $208.49. The firm has a market capitalization of $84.55 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74.

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

Waste Management Announces Dividend

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

Waste Management 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.