Pathway Financial Advisers LLC Sells 166 Shares of Waste Management, Inc. (NYSE:WM)

Pathway Financial Advisers LLC decreased its holdings in Waste Management, Inc. (NYSE:WM) by 1.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,241 shares of the business services provider’s stock after selling 166 shares during the period. Waste Management makes up about 1.1% of Pathway Financial Advisers LLC’s holdings, making the stock its 29th biggest holding. Pathway Financial Advisers LLC’s holdings in Waste Management were worth $3,021,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its stake 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 valued at $25,000 after acquiring an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter worth approximately $31,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management in the first quarter worth $35,000. Fairway Wealth LLC boosted its position in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the period. Finally, Fairscale Capital LLC purchased a new position in shares of Waste Management in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $207.52 on Tuesday. The firm’s 50 day moving average price is $206.76 and its 200-day moving average price is $208.60. The stock has a market capitalization of $83.28 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00.

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

Waste Management Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on WM. CIBC cut their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Oppenheimer cut their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. BMO Capital Markets lowered their target price on 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. Finally, Royal Bank of Canada decreased their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by insiders.

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.