Allstate Corp Sells 78 Shares of Waste Management, Inc. (NYSE:WM)

Allstate Corp lessened its holdings in Waste Management, Inc. (NYSE:WM) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,300 shares of the business services provider’s stock after selling 78 shares during the period. Allstate Corp’s holdings in Waste Management were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WM. McClarren Financial Advisors Inc. increased its position 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 acquiring an additional 49 shares during the period. Mayflower Financial Advisors LLC grew its stake in shares of Waste Management by 1.2% in the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after purchasing an additional 50 shares during the last quarter. McAdam LLC increased its holdings in Waste Management by 4.0% during 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 period. Larson Financial Group LLC lifted its holdings in Waste Management by 4.4% in the 1st quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock worth $262,000 after buying an additional 52 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Waste Management by 2.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock worth $438,000 after buying an additional 53 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM traded up $0.65 during trading on Monday, hitting $223.45. The company’s stock had a trading volume of 1,134,955 shares, compared to its average volume of 1,692,259. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market cap of $89.62 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 2.59 and a beta of 0.74. The company has a 50-day moving average of $209.43 and a 200-day moving average of $203.88. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. On average, sell-side analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price on the stock. Truist Financial lowered their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. CIBC upped their target price on Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Finally, Morgan Stanley raised their target price on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.39.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s 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 sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred 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 directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was 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 directly owns 44,144 shares in the company, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Waste Management 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.