Angeles Investment Advisors LLC Buys 61 Shares of Waste Management, Inc. (NYSE:WM)

Angeles Investment Advisors LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,419 shares of the business services provider’s stock after purchasing an additional 61 shares during the period. Angeles Investment Advisors LLC’s holdings in Waste Management were worth $303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rathbones Group PLC increased its position in shares of Waste Management by 4.8% during the second quarter. Rathbones Group PLC now owns 355,443 shares of the business services provider’s stock worth $75,830,000 after acquiring an additional 16,386 shares in the last quarter. Providence Wealth Advisors LLC increased its position in shares of Waste Management by 0.9% during the second quarter. Providence Wealth Advisors LLC now owns 18,352 shares of the business services provider’s stock worth $3,898,000 after acquiring an additional 165 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Waste Management during the second quarter worth about $2,981,000. Schulhoff & Co. Inc. increased its position in shares of Waste Management by 1.5% during the second quarter. Schulhoff & Co. Inc. now owns 9,601 shares of the business services provider’s stock worth $2,048,000 after acquiring an additional 138 shares in the last quarter. Finally, Guardian Wealth Management Inc. increased its position in shares of Waste Management by 0.7% during the second quarter. Guardian Wealth Management Inc. now owns 14,548 shares of the business services provider’s stock worth $3,104,000 after acquiring an additional 98 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WM shares. CIBC cut their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Truist Financial cut 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. Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Finally, StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Performance

Shares of WM stock opened at $208.36 on Tuesday. The firm’s 50 day moving average is $209.19 and its 200 day moving average is $208.80. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $83.57 billion, a P/E ratio of 34.10, a PEG ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

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.