Texas Capital Bank Wealth Management Services Inc Has $356,000 Position in Waste Management, Inc. (NYSE:WM)

Texas Capital Bank Wealth Management Services Inc trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,670 shares of the business services provider’s stock after selling 131 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Waste Management were worth $356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in shares of Waste Management by 170.5% in the first 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 period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new stake in Waste Management during the 1st quarter valued at approximately $35,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Finally, Fairscale Capital LLC bought a new stake in shares of Waste Management in the 2nd quarter valued at $39,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WM has been the topic of several recent analyst reports. Truist Financial dropped their target price 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. Robert W. Baird cut their target price 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. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Royal Bank of Canada cut their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Finally, Oppenheimer lowered their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Price Performance

Shares of NYSE WM opened at $205.51 on Friday. The stock has a market cap of $82.48 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.32 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The firm’s 50-day simple moving average is $207.07 and its 200 day simple moving average is $208.63.

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, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the company earned $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Waste Management’s payout ratio is 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were 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 in the company, valued at $9,711,680. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate 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.