Waste Management, Inc. (NYSE:WM) Holdings Lowered by Allworth Financial LP

Allworth Financial LP lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 13,177 shares of the business services provider’s stock after selling 525 shares during the period. Allworth Financial LP’s holdings in Waste Management were worth $2,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC boosted its position in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management during the second quarter worth approximately $31,000. Fairway Wealth LLC grew its position in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management in the second quarter valued at $36,000. Finally, Fairscale Capital LLC bought a new stake in shares of Waste Management during the 2nd quarter worth $39,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 1.0 %

Waste Management stock opened at $206.80 on Monday. Waste Management, Inc. has a one year low of $160.90 and a one year high of $225.00. The company’s fifty day moving average price is $208.77 and its two-hundred day moving average price is $208.56. The company has a market capitalization of $82.94 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.34 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.45%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Scotiabank started coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Robert W. Baird reduced their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Truist Financial dropped their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Finally, William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.