The Manufacturers Life Insurance Company Sells 560 Shares of Waste Management, Inc. (NYSE:WM)

The Manufacturers Life Insurance Company cut its position in shares of Waste Management, Inc. (NYSE:WM) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,480 shares of the business services provider’s stock after selling 560 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Waste Management worth $81,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WM. International Assets Investment Management LLC increased its position in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the period. Wulff Hansen & CO. increased its position in shares of Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the period. AMF Tjanstepension AB grew its position in 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 during the period. Swedbank AB grew its position in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after acquiring an additional 709,678 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Waste Management by 248.5% in the second quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider’s stock valued at $210,092,000 after acquiring an additional 702,188 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 0.5 %

Shares of NYSE WM opened at $228.50 on Thursday. The firm has a market capitalization of $91.71 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $230.39. The firm’s 50-day moving average is $214.21 and its 200-day moving average is $210.45.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm earned $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets increased their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $228.94.

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.