BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Stake in Waste Management, Inc. (NYSE:WM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in Waste Management, Inc. (NYSE:WM) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 380,623 shares of the business services provider’s stock after selling 37,707 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.09% of Waste Management worth $81,129,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of 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 position in Waste Management in the fourth quarter worth about $27,000. Gilfoyle & Co LLC bought a new position in Waste Management in the fourth quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in Waste Management in the first quarter worth about $35,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Waste Management in the fourth quarter worth about $36,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WM. BMO Capital Markets raised their target price on shares of Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Truist Financial cut their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus raised their price target on shares of Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.39.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred 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 owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

Shares of NYSE WM traded up $2.43 during mid-day trading on Wednesday, reaching $223.32. 1,557,192 shares of the company traded hands, compared to its average volume of 1,702,823. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $224.22. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market cap of $89.57 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.51 and a beta of 0.74. The stock has a fifty day simple moving average of $208.95 and a 200-day simple moving average of $203.09.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.34%. Waste Management’s dividend payout ratio (DPR) is 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.