Insider Selling: Waste Management, Inc. (NYSE:WM) Director Sells 310 Shares of Stock

Waste Management, Inc. (NYSE:WM) Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Waste Management Trading Up 0.9 %

Shares of WM stock opened at $220.44 on Friday. The company’s fifty day simple moving average is $209.76 and its two-hundred day simple moving average is $209.06. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $225.00. The stock has a market capitalization of $88.48 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.31 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings results 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. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. As a group, analysts anticipate that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.36%. Waste Management’s payout ratio is currently 45.87%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WM. Fifth Third Wealth Advisors LLC grew its position in Waste Management by 9.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,198 shares of the business services provider’s stock worth $1,079,000 after acquiring an additional 466 shares in the last quarter. Prospera Financial Services Inc grew its position in Waste Management by 23.7% in the third quarter. Prospera Financial Services Inc now owns 9,896 shares of the business services provider’s stock worth $2,056,000 after acquiring an additional 1,894 shares in the last quarter. Meeder Asset Management Inc. grew its position in Waste Management by 321.6% in the third quarter. Meeder Asset Management Inc. now owns 88,792 shares of the business services provider’s stock worth $18,433,000 after acquiring an additional 67,732 shares in the last quarter. Chesapeake Wealth Management grew its position in Waste Management by 4.4% in the third quarter. Chesapeake Wealth Management now owns 1,539 shares of the business services provider’s stock worth $319,000 after acquiring an additional 65 shares in the last quarter. Finally, Caprock Group LLC grew its position in Waste Management by 3.9% in the third quarter. Caprock Group LLC now owns 7,463 shares of the business services provider’s stock worth $1,549,000 after acquiring an additional 283 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on WM shares. Royal Bank of Canada boosted their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Argus lifted their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Company 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.