Waste Management, Inc. (NYSE:WM) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its stake in Waste Management, Inc. (NYSE:WM) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,177 shares of the business services provider’s stock after selling 525 shares during the quarter. Allworth Financial LP’s holdings in Waste Management were worth $2,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vicus Capital acquired a new stake in Waste Management during the 1st quarter valued at $295,000. Trilogy Capital Inc. purchased a new stake in shares of Waste Management during the first quarter worth about $329,000. Breakwater Capital Group acquired a new position in shares of Waste Management in the first quarter worth about $225,000. Compass Ion Advisors LLC purchased a new position in Waste Management in the first quarter valued at about $236,000. Finally, Diversified Trust Co grew its stake in Waste Management by 144.1% during the 1st quarter. Diversified Trust Co now owns 4,271 shares of the business services provider’s stock valued at $911,000 after purchasing an additional 2,521 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WM shares. Scotiabank initiated coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. BMO Capital Markets decreased their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC lowered their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, The Goldman Sachs Group upgraded 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, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Price Performance

Shares of NYSE:WM opened at $206.80 on Monday. The firm’s 50 day moving average is $208.77 and its two-hundred day moving average is $208.56. The firm has a market capitalization of $82.94 billion, a P/E ratio of 33.85, a PEG ratio of 2.34 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. Waste Management, Inc. has a 52 week low of $160.90 and a 52 week high of $225.00.

Waste Management Dividend Announcement

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

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.