Chevy Chase Trust Holdings LLC Sells 3,450 Shares of Waste Management, Inc. (NYSE:WM)

Chevy Chase Trust Holdings LLC trimmed its stake in Waste Management, Inc. (NYSE:WM) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,648 shares of the business services provider’s stock after selling 3,450 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Waste Management were worth $40,824,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parnassus Investments LLC lifted its holdings in Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares during the period. Ameriprise Financial Inc. raised its position in shares of Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after acquiring an additional 12,664 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares during the period. International Assets Investment Management LLC boosted its position in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after purchasing an additional 221,380 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

Waste Management Trading Down 1.4 %

NYSE:WM opened at $225.13 on Tuesday. The company has a 50 day simple moving average of $215.17 and a two-hundred day simple moving average of $210.71. The company has a market cap of $90.36 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.40 and a beta of 0.75. 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, Inc. has a 12 month low of $171.15 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last posted its quarterly earnings data 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 company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. Research analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.33%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WM. Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Truist Financial upped their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” 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 target price for the company. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Argus lifted their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $228.94.

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.