Waste Management, Inc. $WM Holdings Decreased by AMI Asset Management Corp

AMI Asset Management Corp lessened its stake in Waste Management, Inc. (NYSE:WM) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,213 shares of the business services provider’s stock after selling 3,528 shares during the period. Waste Management accounts for 2.3% of AMI Asset Management Corp’s portfolio, making the stock its 21st biggest holding. AMI Asset Management Corp’s holdings in Waste Management were worth $41,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Waste Management in the second quarter valued at approximately $1,064,206,000. Vontobel Holding Ltd. lifted its position in Waste Management by 444.3% in the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after purchasing an additional 1,800,728 shares during the period. Valeo Financial Advisors LLC boosted its stake in Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock valued at $395,512,000 after purchasing an additional 1,717,603 shares in the last quarter. Sustainable Growth Advisers LP raised its stake in shares of Waste Management by 55.5% in the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after buying an additional 1,034,258 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Waste Management by 982.3% in the third quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock valued at $195,692,000 after buying an additional 804,285 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WM. Truist Financial set a $260.00 target price on Waste Management in a report on Wednesday, October 29th. Barclays lowered their price objective on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced their target price on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. National Bankshares decreased their price target on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Finally, The Goldman Sachs Group started coverage on Waste Management in a research report on Monday, November 24th. They set a “buy” rating and a $256.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.95.

Waste Management Trading Up 0.5%

NYSE:WM opened at $221.39 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The company has a market capitalization of $89.19 billion, a P/E ratio of 34.86, a P/E/G ratio of 2.73 and a beta of 0.58. The stock’s 50 day moving average price is $211.68 and its 200 day moving average price is $220.73. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 earnings per share. On average, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, December 5th. Waste Management’s dividend payout ratio is 51.97%.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.