Vaughan David Investments LLC IL Sells 562 Shares of Waste Management, Inc. (NYSE:WM)

Vaughan David Investments LLC IL cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 25.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,660 shares of the business services provider’s stock after selling 562 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Waste Management were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC boosted its position in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the 2nd quarter worth $31,000. Sachetta LLC purchased a new stake in Waste Management in the 4th quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in Waste Management during the first quarter valued at about $35,000. Finally, DSM Capital Partners LLC bought a new position in shares of Waste Management in the fourth quarter worth about $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of WM stock opened at $207.61 on Thursday. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The stock has a fifty day simple moving average of $209.33 and a two-hundred day simple moving average of $208.76. The stock has a market capitalization of $83.27 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 2.29 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the business posted $1.51 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.45%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Analyst Upgrades and Downgrades

WM has been the topic of several recent analyst reports. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets dropped their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. CIBC dropped their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

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.