Waste Management, Inc. (NYSE:WM) Stock Holdings Trimmed by Bank of Montreal Can

Bank of Montreal Can lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,655,517 shares of the business services provider’s stock after selling 45,123 shares during the period. Bank of Montreal Can owned about 0.41% of Waste Management worth $352,377,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WM. Gryphon Financial Partners LLC increased its stake in Waste Management by 83.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,770 shares of the business services provider’s stock valued at $838,000 after purchasing an additional 2,176 shares during the last quarter. Trexquant Investment LP acquired a new stake in Waste Management during the fourth quarter worth about $1,673,000. Assetmark Inc. lifted its holdings in Waste Management by 41.5% in the fourth quarter. Assetmark Inc. now owns 1,969 shares of the business services provider’s stock worth $353,000 after acquiring an additional 577 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Waste Management by 10.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 118,087 shares of the business services provider’s stock valued at $21,149,000 after purchasing an additional 11,226 shares during the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $204.10 on Monday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a market capitalization of $81.86 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The stock has a fifty day moving average of $208.53 and a 200-day moving average of $208.70. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00.

Waste Management (NYSE:WM) last released its quarterly 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 business had revenue of $5.40 billion during 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 for the quarter was up 5.5% on a year-over-year basis. During the same quarter last 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 Announces Dividend

The company 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 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 is currently 49.10%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WM. Oppenheimer lowered their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Robert W. Baird dropped their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Truist Financial reduced their target price 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. Royal Bank of Canada dropped their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Finally, CIBC reduced their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

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.