Waste Management, Inc. (NYSE:WM) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. cut its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,797 shares of the business services provider's stock after selling 1,501 shares during the quarter. Waste Management accounts for approximately 1.5% of TCV Trust & Wealth Management Inc.'s holdings, making the stock its 27th biggest position. TCV Trust & Wealth Management Inc.'s holdings in Waste Management were worth $15,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Waste Management by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock worth $7,526,823,000 after purchasing an additional 538,567 shares during the period. Geode Capital Management LLC boosted its stake in shares of Waste Management by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock valued at $1,654,173,000 after buying an additional 64,260 shares in the last quarter. Parnassus Investments LLC grew its holdings in Waste Management by 22.5% during the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock worth $1,265,629,000 after acquiring an additional 1,151,237 shares during the period. Norges Bank purchased a new position in Waste Management in the fourth quarter worth $1,009,726,000. Finally, Ameriprise Financial Inc. lifted its holdings in Waste Management by 5.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after acquiring an additional 224,279 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on WM shares. Scotiabank increased their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a report on Friday. National Bank Financial raised shares of Waste Management to a "hold" rating in a report on Monday, May 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Wednesday. Robert W. Baird lifted their price target on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Eight 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 MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average target price of $251.00.

Insider Activity

In other Waste Management news, 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 completion of the sale, the chief financial officer now directly owns 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the firm'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 transaction, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents 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 Performance

Shares of NYSE WM opened at $228.14 on Friday. The company has a 50-day simple moving average of $233.03 and a 200-day simple moving average of $224.38. 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 company has a market cap of $91.81 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 3.00 and a beta of 0.66. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations 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 in the previous year, the company earned $1.75 EPS. On average, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is 49.77%.

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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