Waste Management, Inc. (NYSE:WM) Shares Acquired by Legal & General Group Plc

Legal & General Group Plc boosted its stake in Waste Management, Inc. (NYSE:WM) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,846,152 shares of the business services provider’s stock after buying an additional 243,900 shares during the period. Legal & General Group Plc owned approximately 0.96% of Waste Management worth $820,539,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MBB Public Markets I LLC boosted its position in shares of Waste Management by 1,798.6% during the 2nd quarter. MBB Public Markets I LLC now owns 28,897 shares of the business services provider’s stock worth $6,165,000 after purchasing an additional 27,375 shares during the period. Daymark Wealth Partners LLC lifted its stake in Waste Management by 21.6% during the second quarter. Daymark Wealth Partners LLC now owns 5,556 shares of the business services provider’s stock worth $1,185,000 after purchasing an additional 988 shares in the last quarter. Employees Retirement System of Texas grew its stake in shares of Waste Management by 5.1% in the second quarter. Employees Retirement System of Texas now owns 292,153 shares of the business services provider’s stock valued at $62,328,000 after buying an additional 14,153 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after buying an additional 12,664 shares during the period. Finally, APG Asset Management N.V. lifted its stake in Waste Management by 1.9% during the 2nd quarter. APG Asset Management N.V. now owns 1,192,125 shares of the business services provider’s stock worth $237,302,000 after acquiring an additional 22,138 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 1.1 %

Shares of Waste Management stock opened at $205.34 on Friday. The company has a fifty day simple moving average of $207.42 and a 200-day simple moving average of $208.67. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market cap of $82.41 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.32 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 earnings per share. On average, equities analysts forecast that Waste Management, Inc. will post 7.24 EPS 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. Stockholders of record on Friday, September 13th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. Waste Management’s payout ratio is 49.10%.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WM shares. Robert W. Baird cut 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. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. 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 note on Thursday, July 11th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, CIBC cut their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Eleven equities 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.