Waste Management, Inc. (NYSE:WM) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,431 shares of the business services provider's stock after selling 1,901 shares during the period. Corebridge Financial Inc.'s holdings in Waste Management were worth $21,679,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Wealth Strategies & Associates grew its stake in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock worth $28,000 after buying an additional 125 shares during the last quarter. General Partner Inc. acquired a new stake in Waste Management during the fourth quarter valued at $29,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Waste Management during the 4th quarter valued at about $33,000. Sugar Maple Asset Management LLC acquired a new position in Waste Management in the 4th quarter worth about $35,000. Finally, Richardson Financial Services Inc. boosted its position in Waste Management by 65.7% during the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider's stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 0.5 %

Shares of NYSE WM traded down $1.23 during midday trading on Friday, reaching $227.80. 1,264,803 shares of the stock were exchanged, compared to its average volume of 1,616,188. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $235.81. The stock has a market capitalization of $91.60 billion, a P/E ratio of 33.50, a PEG ratio of 2.71 and a beta of 0.75. The company has a 50 day simple moving average of $224.57 and a 200 day simple moving average of $216.56. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76.

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Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. As a group, equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, March 14th. This is a positive change from Waste Management's previous quarterly dividend of $0.75. Waste Management's dividend payout ratio (DPR) is 48.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WM shares. StockNews.com downgraded Waste Management from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Stifel Nicolaus upped their price target on shares of Waste Management from $243.00 to $252.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Raymond James lifted their price objective on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Scotiabank increased their target price on Waste Management from $250.00 to $255.00 and gave the company a "sector outperform" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group lowered their price target on Waste Management from $255.00 to $238.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $236.65.

Insider Buying and Selling at Waste Management

In other news, EVP Charles C. Boettcher sold 693 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the transaction, the executive vice president now directly owns 45,542 shares in the company, valued at $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James C. Fish, Jr. sold 44,405 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $228.43, for a total value of $10,143,434.15. Following the completion of the sale, the chief executive officer now owns 211,061 shares in the company, valued at $48,212,664.23. This represents a 17.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,577 shares of company stock worth $21,662,464 over the last three months. Insiders own 0.18% of the company's stock.

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.