Waste Management, Inc. (NYSE:WM) Stake Lowered by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 2.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,655,517 shares of the business services provider’s stock after selling 45,123 shares during the quarter. Bank of Montreal Can’s holdings in Waste Management were worth $352,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings in shares of 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the second quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Waste Management during the 1st quarter worth $35,000. Fairway Wealth LLC raised its holdings in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new stake in shares of Waste Management in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE WM opened at $204.10 on Monday. The firm has a market capitalization of $81.86 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The business has a fifty day simple moving average of $208.53 and a 200 day simple moving average of $208.70. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 dividend payout ratio is currently 49.10%.

Analysts Set New Price Targets

Several research firms have weighed in on WM. Oppenheimer cut their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada cut their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, CIBC dropped their target price 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. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s 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 in the company, valued at $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.