SOL Capital Management CO Sells 2,000 Shares of Waste Management, Inc. (NYSE:WM)

SOL Capital Management CO reduced its stake in Waste Management, Inc. (NYSE:WM) by 33.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,935 shares of the business services provider’s stock after selling 2,000 shares during the period. SOL Capital Management CO’s holdings in Waste Management were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Waste Management by 0.8% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 278,185 shares of the business services provider’s stock worth $56,135,000 after buying an additional 2,127 shares in the last quarter. Nordea Investment Management AB raised its position in Waste Management by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares during the last quarter. Trium Capital LLP boosted its stake in shares of Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after purchasing an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after purchasing an additional 5,367 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Waste Management by 6.2% in the third quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock valued at $99,759,000 after buying an additional 28,266 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WM shares. Truist Financial boosted their target price 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. UBS Group increased their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. CIBC upped their price target on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets raised their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $232.61.

Waste Management Stock Down 1.0 %

WM stock opened at $220.10 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a fifty-two week low of $184.72 and a fifty-two week high of $230.39. The stock’s 50 day simple moving average is $212.28 and its 200 day simple moving average is $211.36. The company has a market cap of $88.34 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. On average, research analysts expect that Waste Management, Inc. will post 7.99 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.36%. Waste Management’s dividend payout ratio is presently 44.12%.

Waste Management 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.