Outfitter Financial LLC Cuts Holdings in Waste Management, Inc. (NYSE:WM)

Outfitter Financial LLC lowered its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,316 shares of the business services provider's stock after selling 1,930 shares during the period. Waste Management makes up approximately 2.4% of Outfitter Financial LLC's investment portfolio, making the stock its 12th biggest position. Outfitter Financial LLC's holdings in Waste Management were worth $2,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Westend Capital Management LLC grew its position in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares in the last quarter. Transce3nd LLC bought a new stake in Waste Management in the fourth quarter worth about $28,000. West Branch Capital LLC lifted its stake in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Hurley Capital LLC bought a new stake in Waste Management in the fourth quarter worth about $34,000. Finally, Adalta Capital Management LLC bought a new stake in Waste Management in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM traded up $2.47 during trading hours on Friday, reaching $228.17. 240,937 shares of the company traded hands, compared to its average volume of 1,626,724. The stock has a market capitalization of $91.82 billion, a P/E ratio of 34.39, a P/E/G ratio of 2.80 and a beta of 0.64. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58. The business has a fifty day moving average price of $231.66 and a 200-day moving average price of $226.21.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data 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. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The business's quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts anticipate 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 given 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 1.45%. Waste Management's dividend payout ratio (DPR) is presently 49.77%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. William Blair reissued an "outperform" rating on shares of Waste Management in a research note on Wednesday, June 25th. BMO Capital Markets lifted their price target on shares of Waste Management from $241.00 to $245.00 and gave the company a "market perform" rating in a research note on Wednesday, June 25th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a research note on Monday, June 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Finally, UBS Group lifted their price target on shares of Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average price target of $251.29.

Insider Activity

In related news, CFO Devina A. Rankin sold 57,888 shares of the company'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 completion of the transaction, the chief financial officer owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the 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 completion of the sale, the senior vice president directly owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This trade 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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