KCM Investment Advisors LLC Decreases Stock Position in Waste Management, Inc. (NYSE:WM)

KCM Investment Advisors LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,068 shares of the business services provider’s stock after selling 2,792 shares during the quarter. Waste Management makes up 1.4% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. KCM Investment Advisors LLC’s holdings in Waste Management were worth $40,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the 2nd quarter valued at $31,000. Fairway Wealth LLC boosted its stake in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the 2nd quarter worth about $36,000. Fairscale Capital LLC purchased a new position in Waste Management in the 2nd quarter valued at about $39,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on WM shares. CIBC upped their price objective on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Down 0.6 %

Shares of NYSE WM traded down $1.29 on Friday, hitting $220.43. The company had a trading volume of 248,635 shares, compared to its average volume of 1,610,343. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.84. The firm has a market capitalization of $88.47 billion, a P/E ratio of 33.72, a PEG ratio of 2.38 and a beta of 0.74. The business has a 50 day moving average of $211.34 and a two-hundred day moving average of $209.63.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.36%. Waste Management’s dividend payout ratio is currently 45.87%.

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.