Waste Management, Inc. (NYSE:WM) Shares Sold by SouthState Corp

SouthState Corp lowered its holdings in Waste Management, Inc. (NYSE:WM) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,205 shares of the business services provider’s stock after selling 122 shares during the quarter. SouthState Corp’s holdings in Waste Management were worth $1,110,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Waste Management in the second quarter worth about $31,000. Sachetta LLC purchased a new stake in shares of Waste Management during the 4th quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management during the 1st quarter valued at about $35,000. Finally, DSM Capital Partners LLC purchased a new position in shares of Waste Management in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. CIBC dropped their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price target on the stock. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Down 0.4 %

Shares of WM opened at $208.40 on Friday. The stock has a fifty day simple moving average of $209.60 and a two-hundred day simple moving average of $208.66. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $83.64 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

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.