Independent Solutions Wealth Management LLC Trims Stake in Waste Management, Inc. (NYSE:WM)

Independent Solutions Wealth Management LLC lessened its position in Waste Management, Inc. (NYSE:WM) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,952 shares of the business services provider’s stock after selling 144 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Waste Management were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Trium Capital LLP raised its position in Waste Management by 33.6% in the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after acquiring an additional 3,029 shares during the period. J.W. Cole Advisors Inc. grew its holdings in Waste Management by 77.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after buying an additional 5,367 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Waste Management by 417.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock valued at $720,000 after purchasing an additional 2,800 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Waste Management by 32.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock valued at $374,062,000 after purchasing an additional 437,613 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Waste Management by 67.2% during the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM traded up $0.93 during trading on Thursday, hitting $206.36. 947,311 shares of the stock were exchanged, compared to its average volume of 1,617,697. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1-year low of $175.62 and a 1-year high of $230.39. The stock has a fifty day moving average price of $217.65 and a two-hundred day moving average price of $211.47. The firm has a market capitalization of $82.83 billion, a P/E ratio of 31.55, a PEG ratio of 2.36 and a beta of 0.75.

Waste Management (NYSE:WM) last issued its 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. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Morgan Stanley lifted their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. UBS Group boosted their target price 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. Finally, Royal Bank of Canada increased their target price on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.72.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by company insiders.

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.