Core Alternative Capital Decreases Holdings in Waste Management, Inc. (NYSE:WM)

Core Alternative Capital lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 48.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,447 shares of the business services provider’s stock after selling 27,054 shares during the quarter. Core Alternative Capital’s holdings in Waste Management were worth $6,069,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. ARS Wealth Advisors Group LLC increased its stake in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after buying an additional 47 shares during the period. McClarren Financial Advisors Inc. raised its stake in shares of Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in shares of Waste Management by 1.2% during the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after acquiring an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX grew its stake in shares of Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after purchasing an additional 50 shares during the last quarter. Finally, GYL Financial Synergies LLC increased its holdings in Waste Management by 3.8% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 50 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE WM opened at $205.51 on Monday. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The firm has a market capitalization of $82.43 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a 50 day moving average of $207.07 and a 200 day moving average of $208.62.

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

Waste Management Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.46%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Wall Street Analyst Weigh In

WM has been the topic of several recent analyst reports. Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Robert W. Baird dropped their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Royal Bank of Canada cut their target price 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. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.