Garrison Point Advisors LLC Sells 70 Shares of Waste Management, Inc. (NYSE:WM)

Garrison Point Advisors LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,475 shares of the business services provider’s stock after selling 70 shares during the period. Waste Management comprises approximately 1.1% of Garrison Point Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Garrison Point Advisors LLC’s holdings in Waste Management were worth $1,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management during the 2nd quarter valued at about $31,000. Fairway Wealth LLC increased its holdings in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Fairscale Capital LLC acquired a new stake in shares of Waste Management during the second quarter worth about $39,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management in the second quarter valued at approximately $36,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

WM has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. CIBC lowered their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Truist Financial cut their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Oppenheimer reduced their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Price Performance

Shares of NYSE WM opened at $208.91 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market cap of $83.84 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.34 and a beta of 0.74. The stock has a 50 day moving average of $208.70 and a two-hundred day moving average of $208.54. Waste Management, Inc. has a twelve month low of $156.36 and a twelve month high of $225.00.

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

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.44%. Waste Management’s dividend payout ratio is currently 47.69%.

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.