Waste Management, Inc. (NYSE:WM) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 16.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,159 shares of the business services provider's stock after selling 23,301 shares during the period. Teacher Retirement System of Texas' holdings in Waste Management were worth $26,660,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its holdings in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Waste Management by 14.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after buying an additional 15,974 shares in the last quarter. Fisher Asset Management LLC grew its stake in Waste Management by 20.5% in the 4th quarter. Fisher Asset Management LLC now owns 7,744 shares of the business services provider's stock valued at $1,563,000 after acquiring an additional 1,320 shares during the period. SRS Capital Advisors Inc. raised its position in Waste Management by 32.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 589 shares of the business services provider's stock worth $119,000 after acquiring an additional 144 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Waste Management by 106.2% during the fourth quarter. Jones Financial Companies Lllp now owns 14,254 shares of the business services provider's stock valued at $2,876,000 after purchasing an additional 7,342 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 1.4%

Shares of NYSE WM opened at $226.43 on Friday. The stock has a fifty day simple moving average of $232.91 and a 200-day simple moving average of $224.75. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58. 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 has a market capitalization of $91.12 billion, a PE ratio of 34.15, a PEG ratio of 2.96 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued 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. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. Waste Management's dividend payout ratio (DPR) is 49.77%.

Insiders Place Their Bets

In other news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the company'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 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. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. National Bank Financial raised shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. BMO Capital Markets increased their target price on Waste Management from $241.00 to $245.00 and gave the company a "market perform" rating in a report on Wednesday, June 25th. Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Royal Bank Of Canada restated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Finally, Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $251.00.

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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