Waste Management, Inc. (NYSE:WM) Stock Position Decreased by Parallel Advisors LLC

Parallel Advisors LLC lessened its holdings in Waste Management, Inc. (NYSE:WM) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,357 shares of the business services provider’s stock after selling 271 shares during the period. Parallel Advisors LLC’s holdings in Waste Management were worth $1,783,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WM. Norges Bank bought a new stake in Waste Management in the 4th quarter valued at $784,486,000. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management in the first quarter valued at about $300,594,000. Capital World Investors grew its position in Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Swedbank AB bought a new position in Waste Management during the first quarter valued at about $193,955,000. Finally, AMF Tjanstepension AB raised its stake in shares of Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of WM opened at $208.05 on Monday. The company has a 50 day moving average of $209.24 and a 200-day moving average of $208.78. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $83.45 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. Waste Management’s revenue was up 5.5% on a year-over-year basis. As a group, 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 will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.44%. Waste Management’s dividend payout ratio is 49.10%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WM. CIBC dropped their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. BMO Capital Markets reduced their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada decreased their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Robert W. Baird decreased their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

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.