Mercer Global Advisors Inc. ADV Acquires 4,749 Shares of Waste Management, Inc. (NYSE:WM)

Mercer Global Advisors Inc. ADV boosted its holdings in Waste Management, Inc. (NYSE:WM) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,212 shares of the business services provider’s stock after buying an additional 4,749 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Waste Management were worth $11,779,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WM. CIBC dropped their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada cut their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Robert W. Baird cut their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Truist Financial dropped their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $215.83.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The shares were 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 approximately $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Waste Management Trading Up 1.3 %

WM opened at $204.54 on Friday. The stock has a market capitalization of $82.09 billion, a P/E ratio of 33.48, a P/E/G ratio of 2.33 and a beta of 0.74. 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, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The firm’s fifty day simple moving average is $208.73 and its 200 day simple moving average is $208.70.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. The company 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%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 earnings per share. As a group, research analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed 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 1.47%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Waste Management Company 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.