Waste Management, Inc. (NYSE:WM) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 21.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,063 shares of the business services provider’s stock after selling 19,055 shares during the period. Canada Pension Plan Investment Board’s holdings in Waste Management were worth $14,521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its position in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management during the first quarter worth $35,000. Fairway Wealth LLC raised its position in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. Finally, McClarren Financial Advisors Inc. lifted its stake in shares of Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after buying an additional 49 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Up 1.5 %

Shares of NYSE WM opened at $207.13 on Tuesday. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The business’s 50 day moving average is $208.35 and its two-hundred day moving average is $208.70. The firm has a market cap of $83.08 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.33 and a beta of 0.74. 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 (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 EPS. Research analysts predict that Waste Management, Inc. will post 7.24 EPS for the current 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 paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s payout ratio is currently 49.10%.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WM. Truist Financial cut their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets dropped their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, 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 research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Management currently has an average 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.