Glassman Wealth Services Sells 75 Shares of Waste Management, Inc. (NYSE:WM)

Glassman Wealth Services trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 5.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,358 shares of the business services provider’s stock after selling 75 shares during the quarter. Glassman Wealth Services’ holdings in Waste Management were worth $243,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WM. Morgan Stanley lifted its position in shares of Waste Management by 0.7% in the 3rd quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock worth $1,061,521,000 after purchasing an additional 46,084 shares during the period. Nordea Investment Management AB lifted its position in shares of Waste Management by 16.9% in the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after purchasing an additional 776,491 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Waste Management by 1.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock worth $794,174,000 after purchasing an additional 66,816 shares during the period. Norges Bank acquired a new position in shares of Waste Management in the 4th quarter worth approximately $784,486,000. Finally, Northern Trust Corp lifted its position in shares of Waste Management by 2.3% in the 3rd quarter. Northern Trust Corp now owns 4,065,843 shares of the business services provider’s stock worth $619,797,000 after purchasing an additional 90,129 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

In other news, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total value of $523,750.00. Following the sale, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 2,611 shares of company stock valued at $546,839 over the last three months. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WM shares. CIBC boosted their target price on shares of Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Royal Bank of Canada boosted their target price on shares of Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Truist Financial boosted their target price on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Oppenheimer boosted their target price on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.61.

Waste Management Stock Performance

WM traded down $0.68 during trading on Friday, hitting $208.81. 1,270,886 shares of the company traded hands, compared to its average volume of 1,614,986. The firm has a market cap of $83.75 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 2.71 and a beta of 0.72. The stock’s fifty day moving average is $209.50 and its 200 day moving average is $193.83. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, equities analysts predict that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is presently 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.