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Waste Management, Inc. (NYSE:WM) Shares Bought by State of Alaska Department of Revenue

Waste Management logo with Business Services background

State of Alaska Department of Revenue boosted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,796 shares of the business services provider's stock after buying an additional 1,155 shares during the period. State of Alaska Department of Revenue's holdings in Waste Management were worth $9,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in Waste Management during the fourth quarter worth $28,000. West Branch Capital LLC lifted its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $33,000. Hurley Capital LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $34,000. Finally, Sierra Ocean LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Transactions at Waste Management

In related news, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, the senior vice president now directly owns 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $13,740,295.68. Following the completion of the sale, the chief financial officer now directly owns 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% 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.

Waste Management Stock Down 0.5%

NYSE WM traded down $1.28 during trading hours on Friday, hitting $231.94. 2,583,457 shares of the company were exchanged, compared to its average volume of 1,617,385. The company has a 50 day moving average of $233.07 and a two-hundred day moving average of $224.04. 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 52-week low of $196.59 and a 52-week high of $242.58. The firm has a market cap of $93.34 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.07 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last released 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. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The business's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders 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 1.42%. Waste Management's dividend payout ratio is currently 49.77%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and upped their price target for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Tuesday, April 29th. Royal Bank Of Canada boosted their price objective on Waste Management from $227.00 to $229.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Robert W. Baird boosted their price objective on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, UBS Group boosted their price objective on Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. 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's stock. According to MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus target price of $248.00.

View Our Latest Analysis on Waste Management

About Waste Management

(Free Report)

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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