Waste Management, Inc. (NYSE:WM) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 46.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 841,581 shares of the business services provider’s stock after selling 722,286 shares during the quarter. Waste Management makes up about 1.4% of AMF Tjanstepension AB’s investment portfolio, making the stock its 21st largest position. AMF Tjanstepension AB’s holdings in Waste Management were worth $179,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WM. Sachetta LLC purchased a new position in Waste Management during the 4th quarter valued at about $27,000. Gilfoyle & Co LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in Waste Management in the first quarter valued at $35,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Waste Management during the 4th quarter worth about $36,000. Finally, DSM Capital Partners LLC purchased 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on WM. CIBC boosted their price objective on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. BMO Capital Markets boosted their price target on shares of Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Truist Financial raised their target price on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, April 26th. Raymond James lifted their price target on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Oppenheimer boosted their price objective on shares of Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.61.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Up 0.3 %

Shares of WM stock traded up $0.67 during trading on Friday, hitting $213.34. 2,687,298 shares of the company were exchanged, compared to its average volume of 1,731,060. The business’s 50-day simple moving average is $208.06 and its 200 day simple moving average is $199.69. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The firm has a market capitalization of $85.57 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.47 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

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.