Anchor Investment Management LLC Sells 73 Shares of Waste Management, Inc. (NYSE:WM)

Anchor Investment Management LLC decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,875 shares of the business services provider’s stock after selling 73 shares during the quarter. Anchor Investment Management LLC’s holdings in Waste Management were worth $6,587,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew 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 valued at $25,000 after purchasing an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management during the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management during the 1st quarter valued at approximately $35,000. Fairway Wealth LLC raised its holdings in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management during the 2nd quarter valued at approximately $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. CIBC decreased their target price 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. Oppenheimer dropped their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada dropped their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Price Performance

Waste Management stock opened at $207.32 on Thursday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The stock has a market cap of $83.20 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The firm has a 50-day moving average of $206.34 and a two-hundred day moving average of $208.57. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 earnings per share. On average, research analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

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.