Moran Wealth Management LLC Has $4.61 Million Position in Waste Management, Inc. (NYSE:WM)

Moran Wealth Management LLC lessened its stake in Waste Management, Inc. (NYSE:WM) by 0.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,180 shares of the business services provider’s stock after selling 71 shares during the period. Moran Wealth Management LLC’s holdings in Waste Management were worth $4,605,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WM. Pitcairn Co. grew its position in shares of Waste Management by 6.8% in the 1st quarter. Pitcairn Co. now owns 2,796 shares of the business services provider’s stock valued at $596,000 after buying an additional 177 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Waste Management in the 1st quarter valued at about $67,000. CreativeOne Wealth LLC grew its position in shares of Waste Management by 33.9% in the 1st quarter. CreativeOne Wealth LLC now owns 1,752 shares of the business services provider’s stock valued at $373,000 after buying an additional 444 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in shares of Waste Management in the 1st quarter valued at about $251,000. Finally, EP Wealth Advisors LLC boosted its position in shares of Waste Management by 3.0% during the 1st quarter. EP Wealth Advisors LLC now owns 9,138 shares of the business services provider’s stock valued at $1,948,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of several research analyst reports. BMO Capital Markets upped their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. UBS Group increased their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial increased their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Price Performance

Shares of NYSE WM opened at $218.78 on Thursday. The stock has a fifty day simple moving average of $212.24 and a two-hundred day simple moving average of $209.92. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.84. The firm has a market cap of $87.81 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. Analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. Waste Management’s payout ratio is 45.87%.

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.