Mutual of America Capital Management LLC Sells 2,023 Shares of Waste Management, Inc. (NYSE:WM)

Mutual of America Capital Management LLC cut its position in Waste Management, Inc. (NYSE:WM) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,048 shares of the business services provider’s stock after selling 2,023 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Waste Management were worth $9,824,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its stake in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Sachetta LLC bought a new stake in shares of Waste Management during the 4th quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management during the 1st quarter valued at $35,000. Finally, Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% during the 2nd 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 during the period. 80.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WM shares. CIBC cut their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. BMO Capital Markets cut their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada lowered their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Finally, The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Price Performance

Shares of WM opened at $201.85 on Thursday. The stock has a market cap of $81.01 billion, a PE ratio of 33.04, a PEG ratio of 2.33 and a beta of 0.74. The business has a 50-day simple moving average of $208.87 and a two-hundred day simple moving average of $208.73. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Waste Management’s payout ratio is 49.10%.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.