JPMorgan Chase & Co. Cuts Position in Waste Management, Inc. (NYSE:WM)

JPMorgan Chase & Co. reduced its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,626,405 shares of the business services provider's stock after selling 85,527 shares during the quarter. JPMorgan Chase & Co. owned about 0.41% of Waste Management worth $337,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WM. Activest Wealth Management lifted its stake in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider's stock valued at $26,000 after buying an additional 120 shares in the last quarter. Fairway Wealth LLC increased its holdings in 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 purchasing an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management in the second quarter worth approximately $36,000. Fairscale Capital LLC bought a new position in shares of Waste Management in the second quarter valued at approximately $39,000. Finally, DHJJ Financial Advisors Ltd. boosted its position in shares of Waste Management by 51.8% during the third quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider's stock valued at $44,000 after buying an additional 72 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of WM stock traded down $1.75 during trading on Monday, reaching $202.27. 1,209,659 shares of the company's stock traded hands, compared to its average volume of 1,620,859. The firm's 50-day moving average is $216.37 and its 200 day moving average is $211.69. The company has a market capitalization of $81.18 billion, a P/E ratio of 30.93, a PEG ratio of 2.36 and a beta of 0.75. Waste Management, Inc. has a 1 year low of $176.68 and a 1 year high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts expect that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, December 6th. Waste Management's payout ratio is 45.87%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WM shares. Morgan Stanley lifted their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They set a "sector perform" rating and a $220.00 price target on the stock. StockNews.com upgraded shares of Waste Management from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 25th. BMO Capital Markets upped their target price on Waste Management from $213.00 to $220.00 and gave the company a "market perform" rating in a 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 report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $230.72.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.