Accretive Wealth Partners LLC Sells 168 Shares of Waste Management, Inc. (NYSE:WM)

Accretive Wealth Partners LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,553 shares of the business services provider’s stock after selling 168 shares during the period. Accretive Wealth Partners LLC’s holdings in Waste Management were worth $1,983,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Parnassus Investments LLC grew its stake in Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Waste Management by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on WM. Oppenheimer raised their price target on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Robert W. Baird dropped their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.11.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the 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 sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Up 1.3 %

Shares of WM stock opened at $221.53 on Friday. The stock’s 50 day simple moving average is $212.52 and its 200 day simple moving average is $210.00. 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 twelve month low of $168.73 and a twelve month high of $226.84. The company has a market capitalization of $88.92 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 2.30 and a beta of 0.74.

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

Waste Management Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

About Waste Management

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.