Waste Management, Inc. (NYSE:WM) Stock Position Trimmed by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC cut its position in Waste Management, Inc. (NYSE:WM) by 37.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,577 shares of the business services provider’s stock after selling 5,742 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Waste Management were worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the 2nd quarter worth about $31,000. Sachetta LLC bought a new stake in shares of Waste Management during the 4th quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management during the 1st quarter worth about $35,000. Finally, Fairway Wealth LLC raised its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Waste Management stock opened at $203.14 on Wednesday. The firm’s 50 day simple moving average is $209.06 and its 200-day simple moving average is $208.78. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The company has a market cap of $81.48 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 2.33 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 announced its quarterly earnings data 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 net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, September 13th. Waste Management’s payout ratio is presently 49.10%.

Wall Street Analyst Weigh In

A number of analysts have commented on WM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. CIBC dropped their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Finally, StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.