Northeast Financial Group Inc. Cuts Holdings in Waste Management, Inc. (NYSE:WM)

Northeast Financial Group Inc. reduced its position in Waste Management, Inc. (NYSE:WM) by 40.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,591 shares of the business services provider’s stock after selling 2,402 shares during the quarter. Northeast Financial Group Inc.’s holdings in Waste Management were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Sachetta LLC purchased a new position in Waste Management in the fourth quarter valued at about $27,000. Gilfoyle & Co LLC purchased a new position in Waste Management in the fourth quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in Waste Management in the first quarter valued at about $35,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Waste Management in the fourth quarter valued at about $36,000. Finally, DSM Capital Partners LLC purchased a new position in Waste Management in the fourth quarter valued at about $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

NYSE WM opened at $212.70 on Thursday. The stock has a market capitalization of $85.31 billion, a P/E ratio of 34.81, a P/E/G ratio of 2.47 and a beta of 0.74. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54. The business’s fifty day moving average is $207.65 and its two-hundred day moving average is $199.23. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the company posted $1.31 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, June 7th. Waste Management’s payout ratio is 49.10%.

Wall Street Analyst Weigh In

WM has been the topic of several research reports. Robert W. Baird raised their price objective on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. Oppenheimer lifted their target price on Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Truist Financial lifted their target price on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. CIBC lifted their target price on Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Finally, BMO Capital Markets lifted their target price on Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

Insider Activity

In other news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Waste Management 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.