Impax Asset Management Group plc Sells 122,609 Shares of Waste Management, Inc. (NYSE:WM)

Impax Asset Management Group plc decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,510,721 shares of the business services provider's stock after selling 122,609 shares during the period. Waste Management comprises about 2.1% of Impax Asset Management Group plc's investment portfolio, making the stock its 8th biggest holding. Impax Asset Management Group plc owned 0.38% of Waste Management worth $349,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its position in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares in the last quarter. West Branch Capital LLC lifted its position in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares in the last quarter. Transce3nd LLC purchased a new stake in Waste Management in the 4th quarter worth approximately $28,000. Hurley Capital LLC purchased a new stake in Waste Management in the 4th quarter worth approximately $34,000. Finally, Fairway Wealth LLC lifted its position in Waste Management by 87.6% in the 4th quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock worth $40,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of NYSE:WM traded up $3.04 on Friday, hitting $226.43. 1,525,978 shares of the company were exchanged, compared to its average volume of 1,625,495. The company's 50 day moving average price is $232.87 and its two-hundred day moving average price is $225.01. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. The firm has a market capitalization of $91.12 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.00 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The business's revenue was up 16.7% compared to the same quarter last year. Research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. Waste Management's payout ratio is 49.77%.

Insider Activity

In other news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WM shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 target price on shares of Waste Management in a research report on Thursday, June 26th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. Scotiabank raised their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a report on Friday, June 27th. Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, BMO Capital Markets raised their price target on shares of Waste Management from $241.00 to $245.00 and gave the company a "market perform" rating in a report on Wednesday, June 25th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Waste Management has an average rating of "Moderate Buy" and an average target price of $251.00.

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.