Waste Management, Inc. (NYSE:WM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in Waste Management, Inc. (NYSE:WM) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 582,419 shares of the business services provider’s stock after selling 29,503 shares during the quarter. New York State Common Retirement Fund owned 0.15% of Waste Management worth $120,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ARS Wealth Advisors Group LLC boosted its position in Waste Management by 3.1% during the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after acquiring an additional 47 shares during the period. McClarren Financial Advisors Inc. raised its stake in shares of Waste Management by 29.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after buying an additional 49 shares in the last quarter. Cypress Asset Management Inc. TX boosted its stake in Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after buying an additional 50 shares in the last quarter. GYL Financial Synergies LLC grew its holdings in Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after acquiring an additional 50 shares during the period. Finally, Aries Wealth Management lifted its holdings in Waste Management by 0.6% in the 2nd quarter. Aries Wealth Management now owns 8,780 shares of the business services provider’s stock valued at $1,873,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WM. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer boosted their price objective on Waste Management from $224.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday. Robert W. Baird decreased their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Argus lifted their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $226.05.

Waste Management Stock Performance

Shares of NYSE:WM traded up $0.03 during trading on Friday, reaching $215.88. 67,178 shares of the stock were exchanged, compared to its average volume of 1,615,396. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00. The stock has a 50-day moving average price of $209.26 and a 200-day moving average price of $208.77. Waste Management, Inc. has a 12 month low of $162.34 and a 12 month high of $225.00. The firm has a market cap of $86.65 billion, a PE ratio of 33.00, a PEG ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. Research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.39%. Waste Management’s payout ratio is presently 45.87%.

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.