UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 555,240 Shares of Waste Management, Inc. (NYSE:WM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,456,312 shares of the business services provider’s stock after selling 555,240 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Waste Management were worth $509,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WM. Activest Wealth Management grew its stake in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the second quarter worth about $31,000. Fairway Wealth LLC grew its stake in shares of 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 purchasing an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management in the second quarter worth about $36,000. Finally, Fairscale Capital LLC bought a new stake in shares of Waste Management in the second quarter worth about $39,000. 80.40% of the stock is owned by institutional investors.

Waste Management Price Performance

WM stock opened at $228.46 on Friday. The firm has a market capitalization of $91.70 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.40 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The firm has a 50 day moving average price of $214.69 and a 200-day moving average price of $210.57. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $230.39.

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

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WM. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 23rd. CIBC raised their target price on Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial raised their price objective 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. Finally, BMO Capital Markets raised their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $228.94.

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.