Waste Management, Inc. (NYSE:WM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 303,888 shares of the business services provider’s stock after selling 16,761 shares during the period. New York State Teachers Retirement System owned 0.08% of Waste Management worth $64,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC raised its position in shares of Waste Management by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after buying an additional 16,213 shares during the last quarter. Norges Bank acquired a new stake in shares of Waste Management during the fourth quarter worth $784,486,000. Capital World Investors increased its stake in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Waste Management by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,997,367 shares of the business services provider’s stock worth $357,729,000 after buying an additional 38,828 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Waste Management by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,931,135 shares of the business services provider’s stock worth $345,851,000 after buying an additional 17,254 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada lowered their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Morgan Stanley increased their target price on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Truist Financial lowered their price target 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, Stifel Nicolaus raised their price objective on Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, nine 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Trading Down 0.5 %

NYSE WM traded down $0.97 on Friday, hitting $209.15. 387,480 shares of the company were exchanged, compared to its average volume of 1,689,325. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The company’s 50 day moving average price is $209.50 and its 200-day moving average price is $207.51. The firm has a market capitalization of $83.94 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

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 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 owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 transaction of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by 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.