Impax Asset Management Group plc Trims Stake in Waste Management, Inc. (NYSE:WM)

Impax Asset Management Group plc cut its position in shares of Waste Management, Inc. (NYSE:WM) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,618,394 shares of the business services provider’s stock after selling 118,800 shares during the period. Waste Management makes up 1.4% of Impax Asset Management Group plc’s portfolio, making the stock its 18th largest holding. Impax Asset Management Group plc owned about 0.40% of Waste Management worth $345,268,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. DSM Capital Partners LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $38,000. Capital Wealth Planning LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at $86,364,000. Dai ichi Life Insurance Company Ltd grew its holdings in shares of Waste Management by 2.5% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock worth $31,124,000 after purchasing an additional 4,199 shares during the last quarter. Wellington Management Group LLP increased its stake in Waste Management by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after buying an additional 48,549 shares during the period. Finally, Trexquant Investment LP bought a new stake in Waste Management during the 4th quarter valued at about $1,673,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Down 0.0 %

Shares of WM stock traded down $0.03 during trading hours on Friday, reaching $208.37. 185,664 shares of the company’s stock were exchanged, compared to its average volume of 1,662,282. 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 company has a market cap of $83.62 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.37 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. The stock’s 50 day moving average is $209.60 and its 200-day moving average is $208.66.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the business posted $1.51 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts predict 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. Shareholders of record on Friday, September 13th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Buying and Selling at Waste Management

In other news, 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 sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WM. Truist Financial dropped their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. CIBC cut their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Eleven investment 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.83.

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.