Waste Management (NYSE:WM) CAO Sells $300,163.50 in Stock

Waste Management, Inc. (NYSE:WM) CAO John Carroll sold 1,365 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the sale, the chief accounting officer owned 3,509 shares of the company’s stock, valued at approximately $771,629.10. The trade was a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Waste Management Stock Down 0.9%

WM opened at $214.56 on Friday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The business’s 50-day moving average price is $227.81 and its 200-day moving average price is $226.67. The company has a market cap of $85.76 billion, a P/E ratio of 30.39, a P/E/G ratio of 2.73 and a beta of 0.42.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The company had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the business posted $1.92 EPS. Waste Management’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. Waste Management’s dividend payout ratio is 53.54%.

Institutional Investors Weigh In On Waste Management

Several hedge funds have recently made changes to their positions in the company. Bey Douglas LLC raised its position in shares of Waste Management by 3.7% during the fourth quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock worth $271,000 after purchasing an additional 44 shares during the period. Physician Wealth Advisors Inc. grew its position in Waste Management by 10.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 45 shares during the period. Cullen Frost Bankers Inc. increased its stake in Waste Management by 0.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 6,348 shares of the business services provider’s stock valued at $1,395,000 after purchasing an additional 46 shares in the last quarter. Cornerstone Advisory LLC raised its holdings in Waste Management by 1.6% during the first quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider’s stock worth $683,000 after buying an additional 46 shares during the last quarter. Finally, Coordinated Financial Services Inc. lifted its stake in shares of Waste Management by 3.5% in the fourth quarter. Coordinated Financial Services Inc. now owns 1,386 shares of the business services provider’s stock valued at $305,000 after buying an additional 47 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays upped their price target on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Scotiabank raised their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Citigroup upped their price objective on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Canadian Imperial Bank of Commerce lowered shares of Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, UBS Group boosted their price target on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.89.

About Waste Management

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.