Procyon Advisors LLC Reduces Holdings in Waste Management, Inc. $WM

Procyon Advisors LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 14.3% during the third quarter, Holdings Channel.com reports. The firm owned 16,545 shares of the business services provider’s stock after selling 2,751 shares during the period. Procyon Advisors LLC’s holdings in Waste Management were worth $3,654,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cassia Capital Partners LLC raised its holdings in Waste Management by 14.4% during the 3rd quarter. Cassia Capital Partners LLC now owns 5,567 shares of the business services provider’s stock valued at $1,229,000 after buying an additional 701 shares during the last quarter. Eastern Bank increased its position in shares of Waste Management by 0.8% in the third quarter. Eastern Bank now owns 202,291 shares of the business services provider’s stock valued at $44,672,000 after acquiring an additional 1,655 shares during the period. Obermeyer Wealth Partners raised its stake in shares of Waste Management by 5.8% during the third quarter. Obermeyer Wealth Partners now owns 13,654 shares of the business services provider’s stock valued at $3,015,000 after acquiring an additional 754 shares during the last quarter. Retirement Planning Group LLC boosted its holdings in shares of Waste Management by 473.7% during the third quarter. Retirement Planning Group LLC now owns 5,691 shares of the business services provider’s stock worth $1,257,000 after purchasing an additional 4,699 shares during the period. Finally, Exencial Wealth Advisors LLC increased its holdings in Waste Management by 0.4% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 25,109 shares of the business services provider’s stock valued at $5,545,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WM shares. The Goldman Sachs Group initiated coverage on Waste Management in a research note on Monday, November 24th. They set a “buy” rating and a $256.00 target price on the stock. Truist Financial set a $260.00 target price on shares of Waste Management in a research report on Wednesday, October 29th. Oppenheimer upped their target price on Waste Management from $262.00 to $263.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and boosted their target price for the company from $225.00 to $260.00 in a report on Friday, January 9th. Finally, Sanford C. Bernstein increased their price target on shares of Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.77.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares in the company, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 1.1%

NYSE:WM opened at $218.53 on Thursday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The firm has a market cap of $88.04 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.42 and a beta of 0.59. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The firm has a 50-day simple moving average of $214.95 and a two-hundred day simple moving average of $219.31.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. Analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is 51.97%.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.