Baker Avenue Asset Management LP Sells 16,793 Shares of Waste Management, Inc. $WM

Baker Avenue Asset Management LP decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 86.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,600 shares of the business services provider’s stock after selling 16,793 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Waste Management were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WM. Cary Street Partners Financial LLC lifted its holdings in Waste Management by 52.8% in the second quarter. Cary Street Partners Financial LLC now owns 21,283 shares of the business services provider’s stock valued at $4,870,000 after buying an additional 7,358 shares during the period. Cerity Partners LLC raised its position in shares of Waste Management by 7.0% in the 2nd quarter. Cerity Partners LLC now owns 495,125 shares of the business services provider’s stock worth $113,294,000 after acquiring an additional 32,454 shares in the last quarter. Jump Financial LLC boosted its position in shares of Waste Management by 472.7% during the 2nd quarter. Jump Financial LLC now owns 135,156 shares of the business services provider’s stock valued at $30,926,000 after purchasing an additional 111,556 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Waste Management by 6.2% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,712 shares of the business services provider’s stock worth $392,000 after purchasing an additional 100 shares during the period. Finally, Stenger Family Office LLC acquired a new stake in shares of Waste Management during the 2nd quarter worth approximately $1,837,000. 80.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WM has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Royal Bank Of Canada cut their price target on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 29th. Barclays dropped their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Truist Financial set a $260.00 target price on Waste Management in a report on Wednesday, October 29th. Finally, Baird R W upgraded Waste Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.14.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Waste Management stock opened at $209.08 on Wednesday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The firm has a market capitalization of $84.23 billion, a P/E ratio of 32.93, a PEG ratio of 2.59 and a beta of 0.58. The business has a fifty day moving average price of $211.66 and a 200-day moving average price of $222.26.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). The company had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s dividend payout ratio is 51.97%.

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.