Waste Management, Inc. (NYSE:WM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Waste Management, Inc. (NYSE:WM) by 0.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 269,976 shares of the business services provider’s stock after selling 344 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of Waste Management worth $56,047,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Vest Financial LLC grew its stake in shares of Waste Management by 201.0% in the third quarter. Vest Financial LLC now owns 9,504 shares of the business services provider’s stock valued at $1,973,000 after buying an additional 6,347 shares in the last quarter. OLD National Bancorp IN boosted its holdings in Waste Management by 14.0% in the third quarter. OLD National Bancorp IN now owns 7,071 shares of the business services provider’s stock valued at $1,468,000 after purchasing an additional 868 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in Waste Management by 7.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 2,567 shares of the business services provider’s stock valued at $533,000 after purchasing an additional 185 shares during the last quarter. Veracity Capital LLC boosted its holdings in Waste Management by 0.9% in the third quarter. Veracity Capital LLC now owns 6,255 shares of the business services provider’s stock valued at $1,298,000 after purchasing an additional 57 shares during the last quarter. Finally, Everett Harris & Co. CA boosted its holdings in Waste Management by 11.9% in the third quarter. Everett Harris & Co. CA now owns 1,843 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BMO Capital Markets reduced their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Oppenheimer reduced their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Scotiabank started coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird reduced their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Stock Down 0.4 %

WM opened at $211.82 on Tuesday. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The stock has a market cap of $85.01 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.38 and a beta of 0.74. The stock’s 50 day moving average price is $208.45 and its 200 day moving average price is $208.49.

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

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 47.69%.

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.