Chesapeake Wealth Management Sells 108 Shares of Waste Management, Inc. (NYSE:WM)

Chesapeake Wealth Management reduced its holdings in Waste Management, Inc. (NYSE:WM) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,474 shares of the business services provider’s stock after selling 108 shares during the period. Chesapeake Wealth Management’s holdings in Waste Management were worth $314,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its holdings in Waste Management by 6.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 49,025 shares of the business services provider’s stock valued at $10,459,000 after purchasing an additional 2,760 shares during the period. Sei Investments Co. raised its position in shares of Waste Management by 20.1% during the second quarter. Sei Investments Co. now owns 225,389 shares of the business services provider’s stock valued at $48,085,000 after buying an additional 37,754 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Waste Management by 4.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 104,311 shares of the business services provider’s stock valued at $22,254,000 after buying an additional 4,399 shares during the period. AE Wealth Management LLC grew its position in Waste Management by 39.5% during the second quarter. AE Wealth Management LLC now owns 37,151 shares of the business services provider’s stock worth $7,926,000 after buying an additional 10,529 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its stake in Waste Management by 1,163.4% during the second quarter. Bridges Investment Management Inc. now owns 17,043 shares of the business services provider’s stock valued at $3,636,000 after acquiring an additional 15,694 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of WM stock opened at $204.10 on Friday. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00. The stock has a market capitalization of $81.86 billion, a PE ratio of 33.40, a PEG ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock’s fifty day moving average is $208.53 and its 200-day moving average is $208.68.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm 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 firm earned $1.51 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio is 49.10%.

Analyst Ratings Changes

WM has been the subject of a number of research reports. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. BMO Capital Markets decreased their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Finally, Truist Financial dropped their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

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.