Sound Income Strategies LLC Sells 520 Shares of Waste Management, Inc. (NYSE:WM)

Sound Income Strategies LLC decreased its holdings in Waste Management, Inc. (NYSE:WM) by 47.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 571 shares of the business services provider’s stock after selling 520 shares during the quarter. Sound Income Strategies LLC’s holdings in Waste Management were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Public Sector Pension Investment Board boosted its holdings in Waste Management by 167.1% during the second quarter. Public Sector Pension Investment Board now owns 9,235 shares of the business services provider’s stock worth $1,970,000 after purchasing an additional 5,777 shares during the last quarter. MBB Public Markets I LLC boosted its stake in shares of Waste Management by 1,798.6% in the 2nd quarter. MBB Public Markets I LLC now owns 28,897 shares of the business services provider’s stock worth $6,165,000 after buying an additional 27,375 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Waste Management by 23.9% in the second quarter. Kathmere Capital Management LLC now owns 7,083 shares of the business services provider’s stock valued at $1,511,000 after acquiring an additional 1,366 shares in the last quarter. Buck Wealth Strategies LLC lifted its holdings in Waste Management by 7.8% during the second quarter. Buck Wealth Strategies LLC now owns 46,890 shares of the business services provider’s stock worth $10,003,000 after acquiring an additional 3,382 shares during the period. Finally, Magnolia Capital Advisors LLC boosted its position in Waste Management by 145.7% in the second quarter. Magnolia Capital Advisors LLC now owns 3,283 shares of the business services provider’s stock worth $700,000 after purchasing an additional 1,947 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WM has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank assumed coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Truist Financial lifted their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price objective on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, William Blair started coverage on Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $229.72.

Waste Management Trading Down 0.3 %

Shares of WM stock opened at $209.43 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The business has a 50-day moving average of $212.64 and a 200 day moving average of $211.27. The stock has a market capitalization of $84.06 billion, a PE ratio of 32.02, a P/E/G ratio of 2.17 and a beta of 0.77. Waste Management, Inc. has a 1-year low of $183.00 and a 1-year high of $230.39.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business earned $1.63 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is 45.87%.

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.