Zions Bancorporation N.A. Has $1.08 Million Holdings in Waste Management, Inc. (NYSE:WM)

Zions Bancorporation N.A. lowered its stake in Waste Management, Inc. (NYSE:WM) by 36.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,044 shares of the business services provider’s stock after selling 2,855 shares during the period. Zions Bancorporation N.A.’s holdings in Waste Management were worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Waste Management during the fourth quarter valued at $784,486,000. Sustainable Growth Advisers LP acquired a new position in Waste Management during the 1st quarter valued at about $300,594,000. Capital World Investors boosted its stake in shares of Waste Management by 44.6% in the 1st 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. Swedbank AB acquired a new stake in shares of Waste Management during the 1st quarter worth approximately $193,955,000. Finally, AMF Tjanstepension AB raised its stake in shares of Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after buying an additional 720,358 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on WM. Royal Bank of Canada lowered their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Truist Financial reduced their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Finally, Oppenheimer reduced their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Eleven equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Performance

WM opened at $208.05 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company has a market capitalization of $83.49 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 2.32 and a beta of 0.74. The business’s 50-day moving average price is $209.24 and its two-hundred day moving average price is $208.76. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.51 EPS. Equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s payout ratio is 49.10%.

About Waste Management

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.