Mount Yale Investment Advisors LLC Sells 653 Shares of Waste Management, Inc. (NYSE:WM)

Mount Yale Investment Advisors LLC decreased its holdings in Waste Management, Inc. (NYSE:WM) by 27.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,761 shares of the business services provider’s stock after selling 653 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Waste Management were worth $376,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Parnassus Investments LLC raised its holdings in shares of Waste Management by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after purchasing an additional 16,213 shares during the last quarter. Capital World Investors lifted its position in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Waste Management by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares during the last quarter. AMF Tjanstepension AB grew its holdings in shares of Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after acquiring an additional 720,358 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Waste Management by 0.3% during the fourth quarter. Capital International Investors now owns 1,521,449 shares of the business services provider’s stock valued at $272,491,000 after acquiring an additional 5,103 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

WM has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on 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. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer reduced their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Truist Financial dropped their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Robert W. Baird decreased their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, 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 can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $207.62 on Wednesday. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. 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 market capitalization of $83.32 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. The firm’s 50 day simple moving average is $208.09 and its 200 day simple moving average is $208.70.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $1.51 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio is currently 49.10%.

Waste Management Company 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.