Bridges Investment Management Inc. Raises Position in Waste Management, Inc. (NYSE:WM)

Bridges Investment Management Inc. lifted its stake in Waste Management, Inc. (NYSE:WM) by 1,163.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,043 shares of the business services provider’s stock after purchasing an additional 15,694 shares during the period. Bridges Investment Management Inc.’s holdings in Waste Management were worth $3,636,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Parnassus Investments LLC lifted its holdings in Waste Management by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after purchasing an additional 16,213 shares in the last quarter. Capital World Investors raised its position in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Waste Management by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after buying an additional 221,380 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in Waste Management by 85.6% in the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after buying an additional 720,358 shares during the period. Finally, Capital International Investors raised its holdings in Waste Management by 0.3% during the fourth quarter. Capital International Investors now owns 1,521,449 shares of the business services provider’s stock valued at $272,491,000 after acquiring an additional 5,103 shares during the period. 80.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WM. Oppenheimer cut their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Royal Bank of Canada cut 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 report on Friday, July 26th. CIBC lowered their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Truist Financial cut their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Robert W. Baird decreased their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Eleven 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Insiders Place Their Bets

In other 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 sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Waste Management Price Performance

NYSE:WM opened at $204.54 on Friday. The firm has a market capitalization of $82.09 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The business has a 50 day simple moving average of $208.73 and a 200-day simple moving average of $208.70. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00.

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

Waste Management Dividend Announcement

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

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.