Forte Capital LLC ADV Sells 1,629 Shares of Waste Management, Inc. (NYSE:WM)

Forte Capital LLC ADV lessened its holdings in Waste Management, Inc. (NYSE:WM) by 9.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,050 shares of the business services provider’s stock after selling 1,629 shares during the quarter. Forte Capital LLC ADV’s holdings in Waste Management were worth $2,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in WM. abrdn plc grew its holdings in Waste Management by 315.7% during the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after acquiring an additional 1,106,773 shares in the last quarter. Mirova US LLC boosted its stake in shares of Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after purchasing an additional 910,418 shares in the last quarter. Nordea Investment Management AB raised its stake in Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after buying an additional 776,491 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in Waste Management by 128.2% during the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock worth $137,012,000 after buying an additional 504,924 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Waste Management by 13,927.7% during the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after acquiring an additional 500,701 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

WM stock traded up $0.72 during midday trading on Friday, hitting $207.88. 2,237,956 shares of the stock traded hands, compared to its average volume of 1,702,229. The stock’s fifty day simple moving average is $208.92 and its 200-day simple moving average is $188.64. The firm has a market cap of $83.38 billion, a P/E ratio of 34.02, a PEG ratio of 2.71 and a beta of 0.72. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last announced its quarterly earnings results 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. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 EPS. On average, analysts expect that Waste Management, Inc. will post 7.26 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is currently 49.10%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Oppenheimer boosted their target price on Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Raymond James increased their price target on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. CIBC upped their price objective on shares of Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, TD Cowen lifted their target price on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $216.24.

Insider Buying and Selling

In other news, EVP Charles C. Boettcher sold 3,275 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $199.49, for a total value of $653,329.75. Following the completion of the sale, the executive vice president now directly owns 36,403 shares in the company, valued at $7,262,034.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Devina A. Rankin sold 775 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total value of $153,899.50. Following the sale, the chief financial officer now directly owns 75,204 shares in the company, valued at approximately $14,934,010.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles C. Boettcher sold 3,275 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $199.49, for a total transaction of $653,329.75. Following the transaction, the executive vice president now directly owns 36,403 shares of the company’s stock, valued at approximately $7,262,034.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by corporate insiders.

Waste Management Company 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.