Allspring Global Investments Holdings LLC Decreases Position in Waste Management, Inc. (NYSE:WM)

Allspring Global Investments Holdings LLC trimmed its position in Waste Management, Inc. (NYSE:WM - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,732 shares of the business services provider's stock after selling 31,158 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of Waste Management worth $57,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Transce3nd LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $28,000. West Branch Capital LLC increased its position in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $33,000. Hurley Capital LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $34,000. Finally, Fairway Wealth LLC increased its position in shares of Waste Management by 87.6% in the 4th quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock valued at $40,000 after acquiring an additional 92 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Trading Up 0.6%

Shares of Waste Management stock opened at $228.14 on Monday. The firm has a market capitalization of $91.81 billion, a PE ratio of 34.41, a P/E/G ratio of 3.02 and a beta of 0.66. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58. The firm's 50-day moving average price is $233.03 and its 200 day moving average price is $224.52. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. Waste Management's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's dividend payout ratio is presently 49.77%.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the transaction, the chief financial officer now directly owns 83,934 shares of the company's stock, valued at $19,922,574.24. This trade represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the transaction, the senior vice president now directly owns 16,542 shares in the company, valued at $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WM shares. HSBC raised Waste Management from a "hold" rating to a "buy" rating and upped their target price for the company from $210.00 to $265.00 in a research report on Friday, April 25th. Oppenheimer increased their price target on Waste Management from $251.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. UBS Group increased their price target on Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, CIBC increased their price target on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $251.00.

Waste Management Company 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.

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