Amundi Sells 105,330 Shares of Waste Management, Inc. $WM

Key Points

• Amundi reduced its Waste Management stake by 3.5%, selling 105,330 shares during the second quarter. It still held 2.88 million shares valued at approximately $641.5 million, while institutional investors collectively owned 80.4% of the company.
• Waste Management reported quarterly earnings of $2.02 per share, exceeding analyst expectations of $1.98, while revenue rose 4% year over year to $6.68 billion but came in slightly below estimates.
• The company declared a quarterly dividend of $0.945 per share, equivalent to an annualized $3.78 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $258.89 versus the stock’s reported price of $218.90.

Amundi trimmed its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,878,103 shares of the business services provider's stock after selling 105,330 shares during the quarter. Amundi owned 0.72% of Waste Management worth $641,451,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. RHL Group LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $29,000. Financial Network Wealth Advisors LLC boosted its position in shares of Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new position in shares of Waste Management during the fourth quarter worth about $29,000. JPL Wealth Management LLC acquired a new stake in Waste Management in the 3rd quarter valued at approximately $30,000. Finally, Main Street Group LTD bought a new stake in Waste Management in the 1st quarter valued at approximately $31,000. Institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 0.0%

Shares of WM stock opened at $218.90 on Monday. The stock has a 50 day simple moving average of $228.48 and a 200 day simple moving average of $227.12. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The stock has a market cap of $87.50 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company posted $1.92 EPS. The company's revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.945 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management's payout ratio is presently 53.54%.

Analysts Set New Price Targets

WM has been the subject of several analyst reports. Oppenheimer decreased their price objective on Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Royal Bank Of Canada boosted their target price on Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Stifel Nicolaus lifted their target price on shares of Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Citigroup upped their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, UBS Group increased their price target on shares of Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Waste Management Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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