Itau Unibanco Holding S.A. Buys Shares of 369 Waste Management, Inc. (NYSE:WM)

Itau Unibanco Holding S.A. purchased a new position in Waste Management, Inc. (NYSE:WM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 369 shares of the business services provider’s stock, valued at approximately $79,000.

Other hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its holdings in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management during the first quarter valued at approximately $35,000. Fairway Wealth LLC increased its holdings in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the period. Finally, DSM Capital Partners LLC bought a new position in Waste Management in the 4th quarter valued at $38,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Waste Management

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 value of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of WM stock opened at $204.10 on Monday. 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 cap of $81.86 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.33 and a beta of 0.74. The business’s fifty day moving average is $208.53 and its 200 day moving average is $208.70. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly 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 net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business earned $1.51 EPS. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Waste Management’s payout ratio is currently 49.10%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WM. Truist Financial lowered their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer lowered their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird reduced their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada dropped their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to 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.