Waste Management, Inc. (NYSE:WM) Position Cut by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,504 shares of the business services provider’s stock after selling 331 shares during the quarter. Kentucky Retirement Systems’ holdings in Waste Management were worth $5,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WM. Paces Ferry Wealth Advisors LLC acquired a new stake in shares of Waste Management during the 2nd quarter valued at $210,000. Sienna Gestion acquired a new stake in shares of Waste Management during the 2nd quarter valued at $6,760,000. Carolinas Wealth Consulting LLC lifted its position in shares of Waste Management by 30.2% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,082 shares of the business services provider’s stock valued at $231,000 after acquiring an additional 251 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Waste Management by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 60,003 shares of the business services provider’s stock valued at $12,801,000 after acquiring an additional 1,270 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Waste Management by 5.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 42,837 shares of the business services provider’s stock valued at $9,131,000 after acquiring an additional 2,302 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WM. Royal Bank of Canada reduced their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. 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 report on Thursday, July 11th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Robert W. Baird reduced their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Oppenheimer reduced their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Eleven 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Up 1.3 %

WM stock opened at $204.54 on Friday. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company has a market cap of $82.09 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The business’s 50-day simple moving average is $208.73 and its 200 day simple moving average is $208.70.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting 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%. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.51 earnings per share. On average, research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

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 given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

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.