Waste Management, Inc. (NYSE:WM) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. trimmed its position in Waste Management, Inc. (NYSE:WM) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,216 shares of the business services provider’s stock after selling 25,725 shares during the period. Westwood Holdings Group Inc.’s holdings in Waste Management were worth $36,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the period. Sachetta LLC acquired a new stake in Waste Management during the 4th quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter valued at about $35,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Waste Management in the 4th quarter valued at about $36,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Waste Management in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael J. Watson sold 4,208 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM traded up $1.69 during midday trading on Friday, hitting $207.76. The company’s stock had a trading volume of 1,793,144 shares, compared to its average volume of 1,617,543. The company has a market cap of $83.38 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The business’s 50 day simple moving average is $208.97 and its 200 day simple moving average is $205.50. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last released its 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 for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $1.51 EPS. On average, analysts forecast that Waste Management, Inc. will post 7.25 EPS for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s payout ratio is currently 49.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WM shares. Oppenheimer decreased their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Truist Financial dropped their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus lifted their price objective on shares of Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a report on Friday, April 26th. Raymond James increased their target price on shares of Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Robert W. Baird cut their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

About Waste Management

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.