Diversify Advisory Services LLC Reduces Stake in Waste Management, Inc. (NYSE:WM)

Diversify Advisory Services LLC lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 7.6% in the third quarter, Holdings Channel reports. The fund owned 8,042 shares of the business services provider’s stock after selling 665 shares during the quarter. Diversify Advisory Services LLC’s holdings in Waste Management were worth $1,697,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in shares of Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after acquiring an additional 12,664 shares during the last quarter. Capital World Investors raised its holdings in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares during the period. Legal & General Group Plc lifted its position 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 valued at $820,539,000 after purchasing an additional 243,900 shares in the last quarter. International Assets Investment Management LLC increased its position in 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 worth $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares during the period. Institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer cut their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Truist Financial cut their price target 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. Finally, Scotiabank assumed coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Trading Up 5.2 %

WM stock opened at $219.11 on Wednesday. The firm has a market cap of $87.93 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The firm has a fifty day moving average price of $209.03 and a 200 day moving average price of $208.67. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a fifty-two week low of $161.60 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $1.63 EPS. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 47.69%.

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.