Drive Wealth Management LLC Has $403,000 Stake in Waste Management, Inc. (NYSE:WM)

Drive Wealth Management LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,942 shares of the business services provider’s stock after selling 60 shares during the quarter. Drive Wealth Management LLC’s holdings in Waste Management were worth $403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the second quarter worth about $31,000. Fairway Wealth LLC lifted its holdings in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the second quarter valued at approximately $36,000. Fairscale Capital LLC acquired a new position in Waste Management during the second quarter valued at approximately $39,000. Finally, Hexagon Capital Partners LLC lifted its stake in Waste Management by 67.2% during the second 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. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WM. Argus boosted their price target on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird dropped their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Friday. Morgan Stanley raised their target price on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.11.

Waste Management Stock Performance

Shares of Waste Management stock opened at $218.31 on Tuesday. The company has a market cap of $87.62 billion, a P/E ratio of 33.38, a PEG ratio of 2.30 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The business has a 50-day moving average price of $211.80 and a two-hundred day moving average price of $209.78. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.84.

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

Waste Management Announces Dividend

The business also recently declared 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 1.37%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.