Mutual of America Capital Management LLC Decreases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Mutual of America Capital Management LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.2% in the second quarter, HoldingsChannel.com reports. The fund owned 46,048 shares of the business services provider’s stock after selling 2,023 shares during the period. Mutual of America Capital Management LLC’s holdings in Waste Management were worth $9,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hexagon Capital Partners LLC increased its position in 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 buying an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter worth $31,000. Sachetta LLC bought a new stake in Waste Management during the fourth quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in Waste Management during the first quarter valued at $35,000. Finally, Fairway Wealth LLC boosted its stake in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM opened at $201.85 on Thursday. 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 business’s 50 day moving average price is $208.87 and its 200-day moving average price is $208.73. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00. The stock has a market cap of $81.01 billion, a P/E ratio of 33.04, a P/E/G ratio of 2.33 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. The business 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 firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.51 EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued 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 dividend yield of 1.49%. Waste Management’s payout ratio is 49.10%.

Analyst Ratings Changes

Several equities research analysts have issued reports on WM shares. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets reduced their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Robert W. Baird reduced their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Truist Financial reduced their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven 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 MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $215.83.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the 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 transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

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.