Sitrin Capital Management LLC Sells 325 Shares of Waste Management, Inc. (NYSE:WM)

Sitrin Capital Management LLC decreased its position in Waste Management, Inc. (NYSE:WM) by 1.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,901 shares of the business services provider’s stock after selling 325 shares during the quarter. Waste Management comprises 3.3% of Sitrin Capital Management LLC’s holdings, making the stock its 12th largest position. Sitrin Capital Management LLC’s holdings in Waste Management were worth $6,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. FORVIS Wealth Advisors LLC increased its stake in Waste Management by 59.2% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 7,009 shares of the business services provider’s stock worth $1,494,000 after purchasing an additional 2,606 shares during the period. Norden Group LLC bought a new stake in Waste Management in the 1st quarter worth $418,000. J.W. Cole Advisors Inc. increased its position in shares of Waste Management by 3.9% in the first quarter. J.W. Cole Advisors Inc. now owns 4,676 shares of the business services provider’s stock valued at $997,000 after acquiring an additional 176 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Waste Management during the first quarter valued at about $1,827,000. Finally, Mission Wealth Management LP purchased a new stake in shares of Waste Management during the first quarter worth about $280,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 0.0 %

Shares of WM traded up $0.01 during trading hours on Friday, hitting $215.86. The company had a trading volume of 256,230 shares, compared to its average volume of 1,616,287. The stock has a market capitalization of $86.64 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 2.30 and a beta of 0.74. The firm has a fifty day moving average price of $209.26 and a 200-day moving average price of $208.77. Waste Management, Inc. has a 52-week low of $162.34 and a 52-week high of $225.00. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.03 and a current ratio of 0.89.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. On average, equities research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.39%. Waste Management’s payout ratio is 45.87%.

Analyst Ratings Changes

A number of research analysts have commented on WM shares. Truist Financial upped 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. Scotiabank initiated coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. CIBC upped their price objective on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Argus boosted their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Eleven equities 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 company’s stock. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $226.05.

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.