Waste Management, Inc. (NYSE:WM) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd decreased its holdings in Waste Management, Inc. (NYSE:WM) by 82.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,695 shares of the business services provider’s stock after selling 17,922 shares during the quarter. WINTON GROUP Ltd’s holdings in Waste Management were worth $788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Hexagon Capital Partners LLC lifted its position in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Sachetta LLC bought a new stake in Waste Management during the 4th quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC bought a new position in shares of Waste Management in the first quarter worth $35,000. Finally, DSM Capital Partners LLC bought a new stake in shares of Waste Management during the fourth quarter valued at about $38,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM stock opened at $203.14 on Wednesday. The stock’s fifty day simple moving average is $209.06 and its 200-day simple moving average is $208.78. The company has a market capitalization of $81.48 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 2.33 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. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00.

Waste Management (NYSE:WM) last issued 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. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WM. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Truist Financial lowered their price target 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. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. CIBC dropped their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Eleven 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 company has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction 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 completion of the sale, the vice president now 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 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.