Fiduciary Alliance LLC Invests $413,000 in Waste Management, Inc. (NYSE:WM)

Fiduciary Alliance LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,990 shares of the business services provider’s stock, valued at approximately $413,000.

Other institutional investors also recently added to or reduced their stakes in the company. ARS Wealth Advisors Group LLC boosted its stake in Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after buying an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of Waste Management by 29.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 49 shares in the last quarter. Mayflower Financial Advisors LLC grew its holdings in shares of Waste Management by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after purchasing an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX increased its position in shares of Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after purchasing an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC boosted its position in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after buying an additional 50 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

NYSE WM opened at $213.50 on Tuesday. 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 52-week low of $153.95 and a 52-week high of $225.00. The business has a 50 day simple moving average of $207.60 and a 200 day simple moving average of $208.42. The stock has a market cap of $85.68 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.36 and a beta of 0.74.

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

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.41%. Waste Management’s dividend payout ratio (DPR) is presently 47.69%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WM shares. Royal Bank of Canada cut their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Truist Financial cut their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Scotiabank assumed coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. CIBC dropped their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

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.