31,703 Shares in Waste Management, Inc. (NYSE:WM) Purchased by Sienna Gestion

Sienna Gestion bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 31,703 shares of the business services provider’s stock, valued at approximately $6,760,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DSM Capital Partners LLC acquired a new stake in Waste Management in the 4th quarter worth about $38,000. Wellington Management Group LLP increased its stake in Waste Management by 18.4% during the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after acquiring an additional 48,549 shares during the period. Trexquant Investment LP acquired a new stake in shares of Waste Management during the 4th quarter worth $1,673,000. Focus Financial Network Inc. ADV bought a new position in shares of Waste Management in the fourth quarter worth $4,993,000. Finally, Pinkerton Retirement Specialists LLC grew its stake in Waste Management by 18.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after buying an additional 3,145 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Oppenheimer dropped their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Truist Financial lowered their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. BMO Capital Markets decreased 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 report on Friday, July 26th. Finally, Royal Bank of Canada cut their target price on shares of 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. Eleven 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. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Down 0.6 %

Shares of Waste Management stock opened at $201.85 on Thursday. The stock’s 50-day moving average is $208.87 and its 200 day moving average is $208.73. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The firm has a market cap of $81.01 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

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

Waste Management Dividend Announcement

The business also recently declared 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. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value 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 SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Company 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.