The Manufacturers Life Insurance Company Sells 8,256 Shares of Waste Management, Inc. $WM

The Manufacturers Life Insurance Company trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 192,154 shares of the business services provider’s stock after selling 8,256 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Waste Management were worth $42,827,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WM. RHL Group LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC raised its holdings in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of Waste Management during the 4th quarter worth $29,000. JPL Wealth Management LLC acquired a new position in Waste Management in the third quarter valued at about $30,000. Finally, Main Street Group LTD acquired a new stake in Waste Management during the first quarter worth about $31,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Transactions at Waste Management

In other news, CAO John Carroll sold 1,365 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the completion of the sale, the chief accounting officer owned 3,509 shares of the company’s stock, valued at $771,629.10. This trade represents a 28.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 0.5%

Shares of NYSE WM opened at $213.71 on Friday. The company’s 50 day moving average price is $227.48 and its 200-day moving average price is $226.58. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The company has a market capitalization of $85.42 billion, a P/E ratio of 30.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.42.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 11th. Waste Management’s payout ratio is presently 53.54%.

Analysts Set New Price Targets

WM has been the topic of a number of research analyst reports. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. Oppenheimer decreased their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Scotiabank raised their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada increased their price objective on shares of Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus upped their price target on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.89.

Waste Management Company Profile

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.