Procyon Advisors LLC Has $3.65 Million Position in Waste Management, Inc. $WM

Procyon Advisors LLC decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 14.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,545 shares of the business services provider’s stock after selling 2,751 shares during the period. Procyon Advisors LLC’s holdings in Waste Management were worth $3,654,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in WM. Cornercap Investment Counsel Inc. purchased a new stake in shares of Waste Management during the 3rd quarter valued at $1,583,000. Wealthfront Advisers LLC boosted its stake in Waste Management by 3.1% in the second quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after acquiring an additional 1,698 shares during the last quarter. GPM Growth Investors Inc. grew its position in shares of Waste Management by 50.6% during the 2nd quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after acquiring an additional 5,588 shares during the period. Truist Financial Corp increased its stake in shares of Waste Management by 62.9% during the 2nd quarter. Truist Financial Corp now owns 268,033 shares of the business services provider’s stock worth $61,331,000 after purchasing an additional 103,487 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in shares of Waste Management by 8.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 95,804 shares of the business services provider’s stock worth $21,156,000 after purchasing an additional 7,143 shares during the period. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on WM shares. Morgan Stanley reduced their price objective on Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Citigroup lifted their price objective on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays dropped their price objective on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Truist Financial set a $260.00 price target on shares of Waste Management in a research note on Wednesday, October 29th. Finally, Oppenheimer boosted their target price on shares of Waste Management from $262.00 to $263.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $250.77.

Waste Management Price Performance

NYSE:WM opened at $218.53 on Thursday. The firm has a market capitalization of $88.04 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.42 and a beta of 0.59. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The stock has a fifty day moving average of $214.95 and a 200 day moving average of $219.31. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. On average, research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.825 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management’s payout ratio is 51.97%.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.