Waste Management, Inc. (NYSE:WM) Stock Holdings Trimmed by Covea Finance

Covea Finance cut its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 216,585 shares of the business services provider's stock after selling 19,070 shares during the quarter. Waste Management accounts for 2.0% of Covea Finance's investment portfolio, making the stock its 14th biggest holding. Covea Finance owned approximately 0.05% of Waste Management worth $43,705,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Waste Management by 24.2% during the 2nd quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider's stock worth $14,427,000 after purchasing an additional 13,193 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Waste Management by 0.9% in the second quarter. Federated Hermes Inc. now owns 47,596 shares of the business services provider's stock worth $10,154,000 after acquiring an additional 431 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Waste Management by 4.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,266 shares of the business services provider's stock valued at $1,763,000 after acquiring an additional 358 shares in the last quarter. Angeles Investment Advisors LLC boosted its stake in shares of Waste Management by 4.5% during the second quarter. Angeles Investment Advisors LLC now owns 1,419 shares of the business services provider's stock valued at $303,000 after acquiring an additional 61 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Waste Management by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider's stock worth $473,047,000 after purchasing an additional 221,380 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.5 %

Shares of NYSE:WM traded up $0.99 during midday trading on Wednesday, hitting $208.16. 1,655,360 shares of the company's stock traded hands, compared to its average volume of 1,703,157. Waste Management, Inc. has a twelve month low of $180.17 and a twelve month high of $230.39. The company has a market cap of $83.55 billion, a PE ratio of 31.83, a P/E/G ratio of 2.36 and a beta of 0.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The firm's fifty day moving average price is $214.44 and its two-hundred day moving average price is $211.25.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management's payout ratio is currently 45.87%.

Wall Street Analysts Forecast Growth

WM has been the topic of several analyst reports. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. William Blair started coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an "outperform" rating on the stock. Scotiabank initiated coverage on Waste Management in a research note on Friday, October 4th. They set a "sector perform" rating and a $220.00 price target on the stock. UBS Group lifted their price objective on Waste Management from $220.00 to $226.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Oppenheimer increased their target price on Waste Management from $230.00 to $231.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and an average price target of $230.72.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares of the company's stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.18% of the company's stock.

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.