Waste Management, Inc. (NYSE:WM) Shares Sold by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board reduced its shareholding in Waste Management, Inc. by 41.8%, bringing its total shares to 5,451 worth approximately $1.26 million.
• Several institutional investors increased their positions, with Westend Capital Management boosting its holdings by 126.9%, indicating strong investor interest despite the pension plan's divestiture.
• Wall Street analysts remain optimistic, with thirteen analysts rating Waste Management as a "buy" and an average price target of $254.35.

Ontario Teachers Pension Plan Board cut its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 41.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,451 shares of the business services provider's stock after selling 3,917 shares during the period. Ontario Teachers Pension Plan Board's holdings in Waste Management were worth $1,262,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Westend Capital Management LLC boosted its position in shares of Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares during the period. West Branch Capital LLC boosted its holdings in shares of Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Transce3nd LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $28,000. New Age Alpha Advisors LLC bought a new position in shares of Waste Management in the first quarter valued at approximately $45,000. Finally, Adalta Capital Management LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $40,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WM has been the subject of several recent analyst reports. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Oppenheimer increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Scotiabank increased their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, UBS Group increased their target price on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $254.35.

Insider Buying and Selling at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction 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 transaction, the senior vice president 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 disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Waste Management Stock Up 0.8%

Waste Management stock opened at $235.11 on Friday. The firm has a market cap of $94.71 billion, a PE ratio of 34.88, a P/E/G ratio of 2.86 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm's 50 day moving average price is $230.87 and its two-hundred day moving average price is $228.84. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the business posted $1.82 EPS. Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. On average, research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid 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 1.4%. Waste Management's dividend payout ratio is 48.96%.

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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