Frank Rimerman Advisors LLC Sells 210 Shares of Waste Management, Inc. (NYSE:WM)

Frank Rimerman Advisors LLC lessened its position in Waste Management, Inc. (NYSE:WM) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,833 shares of the business services provider’s stock after selling 210 shares during the period. Frank Rimerman Advisors LLC’s holdings in Waste Management were worth $1,626,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Capital World Investors increased its stake in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after buying an additional 243,900 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Waste Management by 94,414.4% in the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after buying an additional 221,380 shares during the period. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on WM shares. CIBC reduced their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. Oppenheimer reduced their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given 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 target price of $218.89.

Waste Management Price Performance

Shares of WM opened at $206.80 on Friday. The firm has a market capitalization of $82.94 billion, a PE ratio of 33.85, a PEG ratio of 2.34 and a beta of 0.74. The company’s 50-day moving average is $208.77 and its 200-day moving average is $208.56. Waste Management, Inc. has a fifty-two week low of $160.90 and a fifty-two week high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 earnings per share. Equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is presently 49.10%.

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.