Johnson Investment Counsel Inc. Sells 7,046 Shares of Waste Management, Inc. (NYSE:WM)

Johnson Investment Counsel Inc. lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 551,538 shares of the business services provider’s stock after selling 7,046 shares during the period. Waste Management accounts for approximately 1.2% of Johnson Investment Counsel Inc.’s holdings, making the stock its 14th biggest position. Johnson Investment Counsel Inc. owned 0.14% of Waste Management worth $117,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its holdings in 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 in the last quarter. Sachetta LLC purchased a new stake in Waste Management during the 4th quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management during the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new position in shares of Waste Management in the first quarter worth approximately $35,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WM has been the subject of a number of recent analyst reports. Robert W. Baird decreased their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. Oppenheimer reduced their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Royal Bank of Canada lowered their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Finally, 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 research note on Friday, July 26th. Eleven 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Buying and Selling at Waste Management

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 transaction of $330,000.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of Waste Management stock opened at $207.61 on Thursday. The stock’s fifty day moving average is $209.33 and its 200 day moving average is $208.76. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a market cap of $83.27 billion, a P/E ratio of 33.98, a P/E/G ratio of 2.29 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share 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 period in the previous year, the firm earned $1.51 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. 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. Investors of record on Friday, September 13th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio is currently 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.