King Luther Capital Management Corp Has $55.79 Million Holdings in Waste Management, Inc. (NYSE:WM)

King Luther Capital Management Corp reduced its stake in Waste Management, Inc. (NYSE:WM) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,513 shares of the business services provider’s stock after selling 1,819 shares during the quarter. King Luther Capital Management Corp owned 0.07% of Waste Management worth $55,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC raised its position in Waste Management by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after buying an additional 16,213 shares during the last quarter. Capital World Investors raised its holdings in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after purchasing an additional 221,380 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after purchasing an additional 720,358 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of Waste Management by 0.3% in the 4th quarter. Capital International Investors now owns 1,521,449 shares of the business services provider’s stock valued at $272,491,000 after acquiring an additional 5,103 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Transactions 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 transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction 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.

Waste Management Stock Performance

NYSE:WM opened at $204.54 on Friday. The stock has a fifty day moving average price of $208.73 and a 200-day moving average price of $208.70. The company has a market cap of $82.09 billion, a price-to-earnings ratio of 33.48, 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. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

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 issued a dividend of $0.75 per share. The ex-dividend date 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 currently 49.10%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird lowered their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Truist Financial reduced their target price 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. Finally, CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven investment 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. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $215.83.

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.