Waste Management, Inc. (NYSE:WM) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,570 shares of the business services provider's stock after selling 2,043 shares during the period. Waste Management comprises approximately 1.8% of MainStreet Investment Advisors LLC's investment portfolio, making the stock its 14th biggest holding. MainStreet Investment Advisors LLC's holdings in Waste Management were worth $12,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC grew its stake in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares during the period. Transce3nd LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $28,000. West Branch Capital LLC grew 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 buying an additional 49 shares during the period. Hurley Capital LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $34,000. Finally, Adalta Capital Management LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $40,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of NYSE:WM opened at $226.19 on Thursday. The company's fifty day moving average price is $232.60 and its 200 day moving average price is $225.29. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The firm has a market capitalization of $91.02 billion, a P/E ratio of 34.12, a P/E/G ratio of 2.98 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued 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 company had revenue of $6.02 billion for 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 for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.825 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.46%. Waste Management's dividend payout ratio is presently 49.77%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WM shares. CIBC increased their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. UBS Group increased their price objective on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. Melius began coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating for the company. Finally, National Bank Financial raised shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.29.

Insiders Place Their Bets

In other news, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated 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 in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was 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 $19,922,574.24. The trade was 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 Profile

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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