Wambolt & Associates LLC Buys 214 Shares of Waste Management, Inc. (NYSE:WM)

Wambolt & Associates LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,030 shares of the business services provider’s stock after acquiring an additional 214 shares during the quarter. Waste Management makes up 1.2% of Wambolt & Associates LLC’s investment portfolio, making the stock its 20th largest position. Wambolt & Associates LLC’s holdings in Waste Management were worth $4,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Achmea Investment Management B.V. raised its stake in Waste Management by 77.1% in the second quarter. Achmea Investment Management B.V. now owns 35,608 shares of the business services provider’s stock worth $7,597,000 after buying an additional 15,505 shares in the last quarter. American Century Companies Inc. raised its position in shares of Waste Management by 24.2% in the 2nd quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider’s stock worth $14,427,000 after acquiring an additional 13,193 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in shares of Waste Management by 1.3% during the second quarter. Bahl & Gaynor Inc. now owns 424,378 shares of the business services provider’s stock valued at $90,537,000 after purchasing an additional 5,255 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Waste Management by 3.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,380 shares of the business services provider’s stock worth $294,000 after purchasing an additional 50 shares during the period. Finally, Mitchell Sinkler & Starr PA lifted its position in Waste Management by 13.7% during the second quarter. Mitchell Sinkler & Starr PA now owns 9,942 shares of the business services provider’s stock valued at $2,207,000 after buying an additional 1,195 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Waste Management Stock Down 0.3 %

NYSE WM opened at $207.61 on Thursday. The stock has a 50 day moving average price of $209.33 and a 200-day moving average price of $208.76. 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, Inc. has a one year low of $149.71 and a one year high of $225.00. The company has a market capitalization 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 issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the company earned $1.51 earnings per share. Waste Management’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. Waste Management’s payout ratio is 49.10%.

Analyst Upgrades and Downgrades

Several analysts recently commented on WM shares. CIBC cut their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Oppenheimer reduced their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.