Waste Management, Inc. $WM Position Trimmed by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in Waste Management, Inc. (NYSE:WM) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,036 shares of the business services provider’s stock after selling 11,091 shares during the quarter. King Luther Capital Management Corp owned about 0.06% of Waste Management worth $51,803,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WM. Boston Common Asset Management LLC increased its stake in Waste Management by 12.9% in the second quarter. Boston Common Asset Management LLC now owns 55,895 shares of the business services provider’s stock worth $12,458,000 after purchasing an additional 6,391 shares during the period. Principal Financial Group Inc. lifted its position in shares of Waste Management by 3.1% during the first quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider’s stock worth $105,776,000 after purchasing an additional 14,003 shares during the last quarter. KBC Group NV lifted its position in shares of Waste Management by 16.2% during the first quarter. KBC Group NV now owns 409,741 shares of the business services provider’s stock worth $94,155,000 after purchasing an additional 57,028 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Waste Management by 56.1% during the second quarter. Integrated Wealth Concepts LLC now owns 46,398 shares of the business services provider’s stock valued at $10,341,000 after purchasing an additional 16,673 shares during the period. Finally, Kavar Capital Partners Group LLC boosted its stake in shares of Waste Management by 51.1% during the second quarter. Kavar Capital Partners Group LLC now owns 14,207 shares of the business services provider’s stock valued at $3,166,000 after purchasing an additional 4,803 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, CAO John A. Carroll sold 1,365 shares of the business’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 value of $300,163.50. Following the completion of the transaction, the chief accounting officer owned 3,509 shares of the company’s stock, valued at $771,629.10. The trade was a 28.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Johnson Varkey sold 500 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $242.00, for a total value of $121,000.00. Following the sale, the senior vice president owned 8,713 shares of the company’s stock, valued at approximately $2,108,546. This represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce dropped their target price on shares of Waste Management from $250.00 to $225.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Citigroup dropped their target price on shares of Waste Management from $269.00 to $259.00 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. TD Cowen reaffirmed a “buy” rating on shares of Waste Management in a research report on Thursday, October 29th. Finally, Scotiabank dropped their price objective on Waste Management from $260.00 to $245.00 in a research note on Wednesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.04.

Waste Management Stock Performance

WM stock opened at $240.09 on Thursday. Waste Management, Inc. has a 1-year low of $200.57 and a 1-year high of $248.13. The business has a 50-day moving average price of $220.50 and a 200 day moving average price of $225.74. The company has a market capitalization of $95.47 billion, a P/E ratio of 31.51, a PEG ratio of 3.08 and a beta of 0.38. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.82 and a quick ratio of 0.78.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.03). The business had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.81 billion. Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.98 earnings per share. As a group, equities research analysts forecast that Waste Management, Inc. will post 8.05 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a dividend of $0.9450 per share. The ex-dividend date was Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is currently 49.61%.

Waste Management Company Profile

Waste Management, Inc., doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure. WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.