NBW Capital LLC Reduces Stock Holdings in Waste Management, Inc. (NYSE:WM)

NBW Capital LLC decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 16.8% during the first quarter, Holdings Channel.com reports. The fund owned 18,976 shares of the business services provider’s stock after selling 3,827 shares during the period. NBW Capital LLC’s holdings in Waste Management were worth $4,045,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its holdings in shares of Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after buying an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after acquiring an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX lifted its position in Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after acquiring an additional 50 shares during the period. McAdam LLC grew its stake in shares of Waste Management by 4.0% in the 1st quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock valued at $281,000 after purchasing an additional 51 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Waste Management by 4.4% in the first quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of WM stock traded up $1.69 during trading hours on Friday, hitting $207.76. The company’s stock had a trading volume of 1,793,144 shares, compared to its average volume of 1,617,543. Waste Management, Inc. has a twelve month low of $149.71 and a twelve 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 business has a fifty day moving average of $208.97 and a 200-day moving average of $205.67. The stock has a market cap of $83.38 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last released its earnings results 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 company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.25 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WM. Truist Financial lowered their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. CIBC reduced 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 report on Friday, July 26th. TD Cowen boosted their target price on Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, Robert W. Baird dropped their price objective on Waste Management from $226.00 to $216.00 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus price target 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.