Waste Management, Inc. (NYSE:WM) Short Interest Up 513,650.0% in July

Key Points

• The short interest for Waste Management, Inc. increased dramatically by 513,650.0% in July, reaching a total of 4,110,000 shares as of July 15th.
• Waste Management reported earnings of $1.92 EPS for the last quarter, exceeding analyst expectations of $1.89 EPS, and achieved a 19.0% year-over-year revenue growth.
• The company recently declared a quarterly dividend of $0.825 per share, which represents a 1.4% dividend yield and a payout ratio of 48.96%.

Waste Management, Inc. (NYSE:WM - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 4,110,000 shares, agrowthof513,650.0% from the June 30th total of 800 shares. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately1.0% of the shares of the company are sold short. Approximately1.0% of the shares of the company are sold short. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is presently 2.4 days.

Waste Management Stock Performance

NYSE WM traded down $0.42 during trading on Friday, hitting $228.74. 614,746 shares of the company's stock traded hands, compared to its average volume of 1,719,890. The stock has a market capitalization of $92.05 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.83 and a beta of 0.64. Waste Management has a 12-month low of $199.69 and a 12-month high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.79 and a current ratio of 0.86. The business has a 50 day moving average of $231.65 and a 200-day moving average of $227.97.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio is 48.96%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WM shares. HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and upped their price target for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Oppenheimer increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday. Scotiabank increased their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Insider Buying and Selling at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly 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. Corporate insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WM. Westend Capital Management LLC grew its holdings in shares of Waste Management by 126.9% in the first 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 position in shares of Waste Management in the fourth quarter worth approximately $28,000. West Branch Capital LLC grew 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 worth $28,000 after purchasing an additional 49 shares during the last quarter. Hurley Capital LLC bought a new position in shares of Waste Management in the fourth quarter worth approximately $34,000. Finally, Saudi Central Bank bought a new position in shares of Waste Management in the first quarter worth approximately $37,000. 80.40% of the stock is currently owned by institutional investors.

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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