MAI Capital Management Sells 8,473 Shares of Waste Management, Inc. (NYSE:WM)

MAI Capital Management lessened its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 14.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 51,633 shares of the business services provider's stock after selling 8,473 shares during the period. MAI Capital Management's holdings in Waste Management were worth $10,719,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WM. Aljian Capital Management LLC purchased a new position in shares of Waste Management in the third quarter worth approximately $435,000. TrinityPoint Wealth LLC boosted its stake in Waste Management by 5.1% in the 3rd quarter. TrinityPoint Wealth LLC now owns 3,086 shares of the business services provider's stock worth $641,000 after purchasing an additional 151 shares during the period. Thrivent Financial for Lutherans grew its position in Waste Management by 27.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 62,629 shares of the business services provider's stock worth $13,002,000 after purchasing an additional 13,604 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of Waste Management by 13.4% in the third quarter. Claro Advisors LLC now owns 3,197 shares of the business services provider's stock valued at $664,000 after purchasing an additional 379 shares in the last quarter. Finally, Tower Bridge Advisors boosted its position in shares of Waste Management by 16.6% in the third quarter. Tower Bridge Advisors now owns 21,022 shares of the business services provider's stock worth $4,364,000 after buying an additional 3,000 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Waste Management stock traded up $0.74 during trading hours on Tuesday, hitting $219.05. The stock had a trading volume of 1,369,919 shares, compared to its average volume of 1,613,397. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $226.84. The company has a market cap of $87.92 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a 50-day moving average of $211.80 and a two-hundred day moving average of $209.78. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion during 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%. Waste Management's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management's dividend payout ratio is 45.87%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WM. The Goldman Sachs Group raised Waste Management to a "strong-buy" rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 30th. Morgan Stanley lifted 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 note on Wednesday, October 30th. Finally, CIBC boosted their target price on Waste Management from $213.00 to $228.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and a consensus target price of $226.11.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.