Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Position in Waste Management, Inc. (NYSE:WM)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in Waste Management, Inc. (NYSE:WM) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,055,891 shares of the business services provider’s stock after selling 23,408 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Waste Management worth $225,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in Waste Management by 17.2% in the third quarter. Truist Financial Corp now owns 236,977 shares of the business services provider’s stock valued at $36,125,000 after purchasing an additional 34,835 shares during the period. Glenmede Trust Co. NA lifted its position in Waste Management by 5.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 31,716 shares of the business services provider’s stock worth $4,835,000 after acquiring an additional 1,549 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Waste Management by 9.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 20,198 shares of the business services provider’s stock worth $3,079,000 after acquiring an additional 1,772 shares during the period. Alps Advisors Inc. grew its position in Waste Management by 66.3% in the third quarter. Alps Advisors Inc. now owns 22,702 shares of the business services provider’s stock valued at $3,461,000 after acquiring an additional 9,049 shares in the last quarter. Finally, Lido Advisors LLC raised its stake in shares of Waste Management by 9.2% during the third quarter. Lido Advisors LLC now owns 11,513 shares of the business services provider’s stock valued at $1,755,000 after purchasing an additional 967 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

WM opened at $210.20 on Thursday. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The stock has a market cap of $84.31 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 2.44 and a beta of 0.74. The business’s 50 day moving average is $208.11 and its 200-day moving average is $200.47. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts predict that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WM shares. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. CIBC boosted their price target on Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Jefferies Financial Group raised their price objective on Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada increased their target price on Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Finally, Morgan Stanley lifted their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.61.

Waste Management 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.