Mainsail Financial Group LLC Sells 391 Shares of Waste Management, Inc. (NYSE:WM)

Mainsail Financial Group LLC lessened its holdings in Waste Management, Inc. (NYSE:WM) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,458 shares of the business services provider’s stock after selling 391 shares during the period. Mainsail Financial Group LLC’s holdings in Waste Management were worth $946,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WM. Park Avenue Securities LLC increased its position in Waste Management by 12.3% during the first quarter. Park Avenue Securities LLC now owns 4,478 shares of the business services provider’s stock valued at $955,000 after acquiring an additional 492 shares during the last quarter. Annex Advisory Services LLC increased its position in Waste Management by 50.0% during the first quarter. Annex Advisory Services LLC now owns 2,043 shares of the business services provider’s stock valued at $436,000 after acquiring an additional 681 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Waste Management by 8.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 18,810 shares of the business services provider’s stock valued at $4,009,000 after acquiring an additional 1,399 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Waste Management by 2,255.8% during the first quarter. Sound Income Strategies LLC now owns 2,026 shares of the business services provider’s stock valued at $432,000 after purchasing an additional 1,940 shares during the period. Finally, Sunbelt Securities Inc. boosted its stake in shares of Waste Management by 8.8% during the first quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock valued at $161,000 after purchasing an additional 61 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $211.09 on Wednesday. Waste Management, Inc. has a 52-week low of $153.95 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 has a market cap of $84.66 billion, a P/E ratio of 34.55, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. The firm’s 50-day moving average price is $208.59 and its 200-day moving average price is $208.52.

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

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WM. Scotiabank began coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Truist Financial lowered their target price on shares of 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 lowered their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Finally, William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $218.89.

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.