Public Employees Retirement Association of Colorado Has $11.93 Million Holdings in Waste Management, Inc. (NYSE:WM)

Public Employees Retirement Association of Colorado cut its stake in Waste Management, Inc. (NYSE:WM) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,898 shares of the business services provider’s stock after selling 1,860 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Waste Management were worth $11,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its stake 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 buying an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management during the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new position in Waste Management in the first quarter worth about $35,000. Fairway Wealth LLC lifted its stake in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Finally, DSM Capital Partners LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $38,000. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WM shares. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Royal Bank of Canada dropped 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. Oppenheimer reduced their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Finally, Truist Financial decreased their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Waste Management Trading Down 0.3 %

NYSE:WM opened at $204.10 on Friday. The firm has a market capitalization of $81.86 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The business’s 50-day moving average price is $208.53 and its two-hundred day moving average price is $208.69. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share 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 for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business posted $1.51 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio is currently 49.10%.

About Waste Management

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.