State of Alaska Department of Revenue Lowers Holdings in Waste Management, Inc. (NYSE:WM)

State of Alaska Department of Revenue decreased its stake in Waste Management, Inc. (NYSE:WM) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,321 shares of the business services provider’s stock after selling 2,900 shares during the quarter. State of Alaska Department of Revenue’s holdings in Waste Management were worth $9,823,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WM. Hexagon Capital Partners LLC boosted its position in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management during the second quarter worth approximately $31,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the second quarter valued at approximately $36,000. Finally, Fairscale Capital LLC purchased a new position in shares of Waste Management in the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

WM stock opened at $206.80 on Monday. The business has a fifty day moving average of $208.77 and a two-hundred day moving average of $208.56. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a market cap of $82.99 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $160.90 and a 52-week high of $225.00.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Waste Management’s dividend payout ratio is presently 47.69%.

Analysts Set New Price Targets

WM has been the topic of several research reports. Royal Bank of Canada decreased their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. CIBC decreased their target price on 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 decreased their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, BMO Capital Markets cut their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $218.89.

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.