Quilter Plc Sells 641 Shares of Waste Management, Inc. (NYSE:WM)

Quilter Plc lowered its stake in Waste Management, Inc. (NYSE:WM) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,006 shares of the business services provider’s stock after selling 641 shares during the period. Quilter Plc’s holdings in Waste Management were worth $22,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DSM Capital Partners LLC bought a new position in shares of Waste Management in the fourth quarter worth approximately $38,000. Dai ichi Life Insurance Company Ltd boosted its stake in Waste Management by 2.5% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock valued at $31,124,000 after purchasing an additional 4,199 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Waste Management by 18.4% in the fourth quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after purchasing an additional 48,549 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Waste Management during the fourth quarter valued at $1,673,000. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Waste Management during the fourth quarter valued at $4,993,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.1 %

Shares of Waste Management stock opened at $208.05 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 fifty day moving average of $209.24 and a 200 day moving average of $208.78. The company has a market capitalization of $83.45 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.33 and a beta of 0.74. 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 (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the business posted $1.51 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced 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. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WM. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. BMO Capital Markets cut their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Truist Financial reduced their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s 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 owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.