B. Riley Wealth Advisors Inc. Has $5.86 Million Stock Holdings in Waste Management, Inc. (NYSE:WM)

B. Riley Wealth Advisors Inc. trimmed its stake in Waste Management, Inc. (NYSE:WM) by 22.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,487 shares of the business services provider’s stock after selling 7,837 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Waste Management were worth $5,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Waste Management by 18.4% in the fourth quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after purchasing an additional 48,549 shares in the last quarter. Pinkerton Retirement Specialists LLC raised its stake in shares of Waste Management by 18.6% in the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after purchasing an additional 3,145 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Waste Management by 8.8% during the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock valued at $161,000 after acquiring an additional 61 shares in the last quarter. Logan Capital Management Inc. lifted its position in shares of Waste Management by 39.0% during the fourth quarter. Logan Capital Management Inc. now owns 4,258 shares of the business services provider’s stock valued at $763,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Alaska Permanent Fund Corp boosted its stake in shares of Waste Management by 240.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 24,383 shares of the business services provider’s stock worth $5,197,000 after buying an additional 17,225 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $207.52 on Tuesday. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The firm has a market cap of $83.28 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.30 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a 50-day moving average of $206.76 and a 200-day moving average of $208.60.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Waste Management’s dividend payout ratio is 49.10%.

Analyst Ratings Changes

A number of brokerages recently weighed in on WM. Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. CIBC reduced their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Oppenheimer decreased their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Finally, The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Insider Activity

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Waste Management Company 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.