Waste Management, Inc. (NYSE:WM) Stock Position Decreased by USA Financial Formulas

USA Financial Formulas trimmed its stake in shares of Waste Management, Inc. (NYSE:WM) by 70.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,245 shares of the business services provider’s stock after selling 5,467 shares during the period. USA Financial Formulas’ holdings in Waste Management were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Waste Management by 18.4% during the fourth quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock valued at $55,990,000 after buying an additional 48,549 shares in the last quarter. Pinkerton Retirement Specialists LLC raised its holdings in shares of Waste Management by 18.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock valued at $4,284,000 after acquiring an additional 3,145 shares during the period. Sunbelt Securities Inc. lifted its position in shares of Waste Management by 8.8% in the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock valued at $161,000 after acquiring an additional 61 shares in the last quarter. Alaska Permanent Fund Corp grew its position in Waste Management by 240.6% during the 1st quarter. Alaska Permanent Fund Corp now owns 24,383 shares of the business services provider’s stock worth $5,197,000 after purchasing an additional 17,225 shares in the last quarter. Finally, Norden Group LLC acquired a new position in Waste Management during the first quarter valued at $7,146,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $212.23 on Thursday. The company has a market cap of $85.17 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 2.33 and a beta of 0.74. The business has a 50 day moving average price of $207.18 and a 200 day moving average price of $208.46. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a twelve month low of $153.95 and a twelve month high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the business earned $1.51 earnings per share. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s payout ratio is 49.10%.

Insider Activity 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 stock was 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 of the company’s stock, valued at approximately $9,711,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WM has been the subject of a number of research analyst reports. CIBC reduced their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Truist Financial cut their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada lowered 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. Robert W. Baird cut their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.89.

About Waste Management

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.