International Assets Investment Management LLC cut its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 63.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,766 shares of the business services provider’s stock after selling 4,869 shares during the quarter. International Assets Investment Management LLC’s holdings in Waste Management were worth $451,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caliber Wealth Management LLC lifted its stake in Waste Management by 26.2% in the 1st quarter. Caliber Wealth Management LLC now owns 9,314 shares of the business services provider’s stock valued at $1,520,000 after buying an additional 1,931 shares in the last quarter. Claro Advisors LLC increased its holdings in shares of Waste Management by 5.3% during the 1st quarter. Claro Advisors LLC now owns 1,898 shares of the business services provider’s stock worth $310,000 after buying an additional 95 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Waste Management by 23.7% during the 1st quarter. Diversified Trust Co now owns 30,686 shares of the business services provider’s stock worth $5,007,000 after buying an additional 5,880 shares during the last quarter. Burleson & Company LLC increased its holdings in shares of Waste Management by 577.3% during the 4th quarter. Burleson & Company LLC now owns 9,713 shares of the business services provider’s stock worth $1,524,000 after buying an additional 8,279 shares during the last quarter. Finally, Inspirion Wealth Advisors LLC increased its holdings in shares of Waste Management by 222.5% during the 1st quarter. Inspirion Wealth Advisors LLC now owns 4,438 shares of the business services provider’s stock worth $724,000 after buying an additional 3,062 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.
Waste Management Stock Performance
NYSE:WM opened at $173.42 on Monday. The company has a fifty day simple moving average of $165.45 and a two-hundred day simple moving average of $159.22. The company has a market cap of $70.55 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 52 week low of $148.31 and a 52 week high of $175.98.
Waste Management Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.61%. Waste Management’s payout ratio is currently 51.28%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Waste Management in a report on Monday, April 17th. They set a “buy” rating and a $190.00 price target for the company. Morgan Stanley lifted their target price on shares of Waste Management from $179.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, April 6th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and boosted their target price for the company from $171.00 to $177.00 in a research report on Friday, April 28th. TD Cowen assumed coverage on Waste Management in a research report on Thursday, March 30th. They issued an “outperform” rating and a $200.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on Waste Management from $158.00 to $167.00 in a research report on Thursday, April 6th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.64.
About Waste Management
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.
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