Mizuho Securities USA LLC Lowers Stock Holdings in Waste Management, Inc. (NYSE:WM)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Waste Management, Inc. by 15.5% in the first quarter, now holding 29,245 shares worth approximately $6.77 million.
• Insider transactions included CFO Devina A. Rankin selling 57,888 shares for about $13.74 million, resulting in a 40.82% decrease in her ownership.
• Wall Street analysts are optimistic, with multiple firms upgrading Waste Management's rating and price targets, indicating a consensus of "Moderate Buy" at a target price of around $254.35.

Mizuho Securities USA LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,245 shares of the business services provider's stock after selling 5,372 shares during the period. Mizuho Securities USA LLC's holdings in Waste Management were worth $6,771,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WM. Pandora Wealth Inc. purchased a new position in shares of Waste Management in the first quarter worth about $93,000. Fiduciary Family Office LLC purchased a new position in shares of Waste Management in the first quarter worth about $765,000. JPMorgan Chase & Co. increased its holdings in shares of Waste Management by 15.1% in the first quarter. JPMorgan Chase & Co. now owns 1,720,459 shares of the business services provider's stock worth $398,304,000 after buying an additional 226,083 shares during the period. Frank Rimerman Advisors LLC increased its holdings in shares of Waste Management by 2.8% in the first quarter. Frank Rimerman Advisors LLC now owns 3,098 shares of the business services provider's stock worth $717,000 after buying an additional 83 shares during the period. Finally, Cynosure Group LLC increased its holdings in shares of Waste Management by 6.2% in the first quarter. Cynosure Group LLC now owns 1,479 shares of the business services provider's stock worth $342,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Buying and Selling

In related news, CFO Devina A. Rankin sold 57,888 shares of the business'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 completion of the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the business'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 owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a report on Monday, June 9th. William Blair restated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. BMO Capital Markets boosted their price target on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Scotiabank boosted their price target on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Stock Performance

Shares of WM opened at $235.11 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The business's 50 day moving average price is $230.87 and its 200-day moving average price is $228.96. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The stock has a market cap of $94.71 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.88 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the previous year, the firm posted $1.82 EPS. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's payout ratio is currently 48.96%.

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.

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