New York State Teachers Retirement System Trims Stake in Waste Management, Inc. (NYSE:WM)

New York State Teachers Retirement System lowered its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 266,874 shares of the business services provider's stock after selling 9,204 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Waste Management worth $61,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Waste Management by 14.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock worth $25,193,000 after purchasing an additional 15,974 shares during the last quarter. Versor Investments LP purchased a new position in shares of Waste Management in the 4th quarter worth about $242,000. Fisher Asset Management LLC increased its position in shares of Waste Management by 20.5% during the 4th quarter. Fisher Asset Management LLC now owns 7,744 shares of the business services provider's stock valued at $1,563,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Maia Wealth LLC lifted its position in Waste Management by 4.1% in the 4th quarter. Maia Wealth LLC now owns 1,213 shares of the business services provider's stock worth $259,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Up 0.3%

Shares of Waste Management stock opened at $228.92 on Tuesday. The company's fifty day simple moving average is $233.06 and its two-hundred day simple moving average is $224.63. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. The company has a market cap of $92.12 billion, a P/E ratio of 34.53, a PEG ratio of 3.02 and a beta of 0.66.

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

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.825 per share. The ex-dividend date was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.44%. Waste Management's dividend payout ratio is presently 49.77%.

Analyst Ratings Changes

WM has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial raised shares of Waste Management to a "hold" rating in a report on Monday, May 26th. UBS Group boosted their price target on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Melius began coverage on Waste Management in a research note on Monday, June 9th. They set a "buy" rating on the stock. Finally, Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and an average target price of $251.00.

Insider Buying and Selling at Waste Management

In related 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 sale, the chief financial officer owned 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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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