McElhenny Sheffield Capital Management LLC Sells 281 Shares of Waste Management, Inc. (NYSE:WM)

McElhenny Sheffield Capital Management LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 9.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,743 shares of the business services provider’s stock after selling 281 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in Waste Management were worth $569,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Waste Management by 18.4% during the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after acquiring an additional 48,549 shares during the period. Park Avenue Securities LLC increased its stake in shares of Waste Management by 12.3% in the first quarter. Park Avenue Securities LLC now owns 4,478 shares of the business services provider’s stock worth $955,000 after purchasing an additional 492 shares in the last quarter. &PARTNERS purchased a new stake in shares of Waste Management during the 1st quarter valued at approximately $442,000. Opal Wealth Advisors LLC purchased a new position in Waste Management in the 1st quarter valued at approximately $35,000. Finally, Annex Advisory Services LLC raised its holdings in Waste Management by 50.0% during the 1st quarter. Annex Advisory Services LLC now owns 2,043 shares of the business services provider’s stock valued at $436,000 after acquiring an additional 681 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 0.2 %

WM stock opened at $212.75 on Monday. The company has a market capitalization of $85.38 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a one year low of $153.95 and a one year high of $225.00. The company’s 50 day moving average price is $208.28 and its two-hundred day moving average price is $208.45.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the company earned $1.51 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is presently 47.69%.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of analyst reports. Scotiabank assumed coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets reduced their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Finally, William Blair started coverage on Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

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.