Waste Management, Inc. (NYSE:WM - Get Free Report) CAO John Carroll sold 1,365 shares of Waste Management stock in a transaction on Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the sale, the chief accounting officer directly owned 3,509 shares of the company's stock, valued at approximately $771,629.10. This trade represents a 28.01% 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.
Waste Management Trading Down 0.6%
NYSE:WM opened at $217.76 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The firm has a market capitalization of $87.04 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 2.76 and a beta of 0.42. The business's 50-day moving average price is $228.29 and its two-hundred day moving average price is $226.90.
Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 EPS. On average, equities analysts expect that Waste Management, Inc. will post 8.13 earnings per share for the current year.
Waste Management Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. Waste Management's dividend payout ratio is presently 53.54%.
Wall Street Analyst Weigh In
A number of analysts recently commented on WM shares. Barclays upped their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Oppenheimer decreased their target price on Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a research note on Wednesday, July 8th. UBS Group raised their price target on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Weiss Ratings lowered Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 25th. Finally, Citigroup increased their target price on Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $258.89.
Read Our Latest Stock Report on WM
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its position in Waste Management by 26,113.1% in the second quarter. California State Teachers Retirement System now owns 121,870,338 shares of the business services provider's stock valued at $27,162,461,000 after purchasing an additional 121,405,416 shares in the last quarter. Norges Bank bought a new position in shares of Waste Management in the 4th quarter valued at about $1,022,916,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in shares of Waste Management in the second quarter valued at about $322,479,000. Corient Private Wealth LLC boosted its position in Waste Management by 279.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock valued at $236,387,000 after purchasing an additional 792,037 shares during the last quarter. Finally, Diamant Asset Management Inc. grew its stake in Waste Management by 23,051.5% in the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock valued at $17,716,000 after purchasing an additional 767,615 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.
About Waste Management
(
Get Free Report)
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.
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