Waste Management, Inc. (NYSE:WM) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 587,863 shares of the business services provider's stock after selling 295,428 shares during the quarter. Ninety One UK Ltd owned 0.15% of Waste Management worth $136,096,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC lifted its holdings 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 worth $27,000 after purchasing an additional 66 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Waste Management in the 4th quarter worth approximately $28,000. West Branch Capital LLC lifted its holdings 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 worth $28,000 after purchasing an additional 49 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Waste Management in the 4th quarter worth approximately $34,000. Finally, Fairway Wealth LLC lifted its holdings in shares of Waste Management by 87.6% in the 4th quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock worth $40,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

WM has been the topic of several recent research reports. Melius started coverage on Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Seaport Res Ptn raised Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, National Bank Financial raised Waste Management to a "hold" rating in a research note on Monday, May 26th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $251.00.

Waste Management Stock Performance

Shares of WM stock opened at $226.79 on Tuesday. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The company has a market capitalization of $91.26 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 3.00 and a beta of 0.64. 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 stock's fifty day simple moving average is $232.83 and its 200-day simple moving average is $225.29.

Waste Management (NYSE:WM - Get Free Report) last posted 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 business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The firm's revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. On average, 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 business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio is currently 49.77%.

Insider Activity at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the firm'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 transaction of $13,740,295.68. Following the completion of the sale, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the firm'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 sale, the senior vice president owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Waste Management Company 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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