Cary Street Partners Investment Advisory LLC Has $303,000 Holdings in Waste Management, Inc. (NYSE:WM)

Cary Street Partners Investment Advisory LLC trimmed its position in Waste Management, Inc. (NYSE:WM) by 86.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,814 shares of the business services provider’s stock after selling 12,055 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Waste Management were worth $303,000 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. Field & Main Bank raised its stake in shares of Waste Management by 1.9% in the 4th quarter. Field & Main Bank now owns 11,595 shares of the business services provider’s stock valued at $2,077,000 after buying an additional 220 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in Waste Management by 5.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 25,675 shares of the business services provider’s stock worth $4,598,000 after purchasing an additional 1,306 shares during the period. Bluesphere Advisors LLC boosted its holdings in Waste Management by 7.6% during the fourth quarter. Bluesphere Advisors LLC now owns 3,977 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 281 shares in the last quarter. Choreo LLC grew its stake in shares of Waste Management by 53.8% in the 4th quarter. Choreo LLC now owns 7,907 shares of the business services provider’s stock valued at $1,416,000 after purchasing an additional 2,767 shares during the period. Finally, McAdam LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $227,000. 80.40% of the stock is owned by institutional investors.

Insider Activity at Waste Management

In related news, EVP John J. Morris sold 8,889 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total value of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the transaction, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at $19,804,339.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the completion of the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by insiders.

Waste Management Stock Performance

Waste Management stock opened at $206.71 on Thursday. The company has a market cap of $82.91 billion, a PE ratio of 33.83, a PEG ratio of 2.74 and a beta of 0.72. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54. The company’s 50-day moving average is $208.93 and its two-hundred day moving average is $188.17.

Waste Management (NYSE:WM) last announced its quarterly earnings data 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. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The business had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the business posted $1.31 earnings per share. Waste Management’s revenue was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post 7.19 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. Waste Management’s payout ratio is 49.10%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. CIBC lifted their price objective on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and lifted their price target for the company from $190.00 to $205.00 in a report on Wednesday, February 14th. Robert W. Baird upped their price objective on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup boosted their target price on Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Truist Financial increased their price target on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $216.24.

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.