Quotient Wealth Partners LLC Trims Holdings in Waste Management, Inc. (NYSE:WM)

Quotient Wealth Partners LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,474 shares of the business services provider’s stock after selling 361 shares during the period. Quotient Wealth Partners LLC’s holdings in Waste Management were worth $929,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its position in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the second quarter worth $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management in the first quarter worth $35,000. Fairway Wealth LLC grew its stake in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter worth about $36,000. Institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WM shares. BMO Capital Markets reduced 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 research note on Friday, July 26th. Robert W. Baird cut their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada dropped their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Finally, Truist Financial decreased their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Price Performance

Waste Management stock traded down $1.09 during mid-day trading on Thursday, hitting $211.14. The stock had a trading volume of 255,754 shares, compared to its average volume of 1,643,070. Waste Management, Inc. has a one year low of $153.95 and a one year high of $225.00. 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 market capitalization of $84.73 billion, a P/E ratio of 34.73, a P/E/G ratio of 2.33 and a beta of 0.74. The firm’s 50 day moving average is $207.18 and its 200 day moving average is $208.46.

Waste Management (NYSE:WM) last issued 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 company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the company earned $1.51 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.42%. Waste Management’s payout ratio is 49.10%.

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.