Allspring Global Investments Holdings LLC Has $57.67 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Allspring Global Investments Holdings LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 22.2% in the second quarter, Holdings Channel reports. The fund owned 270,320 shares of the business services provider’s stock after selling 77,041 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Waste Management were worth $57,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WM. ARS Wealth Advisors Group LLC increased its position in shares of 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 purchasing an additional 47 shares during the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of Waste Management by 29.7% during the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after purchasing an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of Waste Management by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after purchasing an additional 50 shares during the period. Cypress Asset Management Inc. TX lifted its stake in Waste Management by 1.2% in the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 50 shares during the last quarter. Finally, 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 purchasing an additional 50 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada reduced their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. CIBC cut their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price target on the stock. Finally, Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Stock Up 0.2 %

NYSE WM opened at $209.20 on Wednesday. The business has a fifty day moving average price of $209.67 and a two-hundred day moving average price of $208.06. The stock has a market capitalization of $83.91 billion, a PE ratio of 34.24, a PEG ratio of 2.35 and a beta of 0.74. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business posted $1.51 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal 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 given a $0.75 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.43%. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Activity

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

Waste Management Company 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.