Waste Management, Inc. (NYSE:WM) Holdings Cut by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI decreased its stake in Waste Management, Inc. (NYSE:WM) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,160 shares of the business services provider’s stock after selling 54 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Waste Management were worth $1,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC acquired a new position in shares of Waste Management during the 4th quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Waste Management during the 1st quarter worth $35,000. Finally, DSM Capital Partners LLC acquired a new position in shares of Waste Management during the 4th quarter worth $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 Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

WM has been the topic of a number of research analyst reports. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets reduced their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Trading Up 0.1 %

WM opened at $208.36 on Tuesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company has a market cap of $83.57 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The firm has a 50 day simple moving average of $209.19 and a 200 day simple moving average of $208.80. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00.

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

Waste Management Announces Dividend

The company 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 $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s payout ratio is presently 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.