Waste Management, Inc. (NYSE:WM) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,307 shares of the business services provider’s stock after selling 2,902 shares during the period. Waste Management accounts for 1.5% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 18th largest position. MainStreet Investment Advisors LLC’s holdings in Waste Management were worth $12,653,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. DSM Capital Partners LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $38,000. Capital Wealth Planning LLC purchased a new position in shares of Waste Management in the 4th quarter valued at $86,364,000. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of Waste Management by 2.5% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock valued at $31,124,000 after acquiring an additional 4,199 shares in the last quarter. Wellington Management Group LLP boosted its position in Waste Management by 18.4% during the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after purchasing an additional 48,549 shares during the period. Finally, Trexquant Investment LP purchased a new position in Waste Management in the fourth quarter valued at about $1,673,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 1.8 %

NYSE WM opened at $204.73 on Friday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a 50-day simple moving average of $209.43 and a 200-day simple moving average of $208.73. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The firm has a market capitalization of $82.11 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share 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 business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the firm earned $1.51 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WM shares. Truist Financial decreased their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. CIBC dropped their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets lowered their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Finally, Royal Bank of Canada decreased their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $215.83.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s 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 transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.