Jensen Investment Management Inc. Sells 89,979 Shares of Waste Management, Inc. (NYSE:WM)

Jensen Investment Management Inc. lessened its position in Waste Management, Inc. (NYSE:WM - Free Report) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,501,810 shares of the business services provider's stock after selling 89,979 shares during the quarter. Waste Management accounts for approximately 2.6% of Jensen Investment Management Inc.'s portfolio, making the stock its 18th largest holding. Jensen Investment Management Inc. owned about 0.37% of Waste Management worth $311,776,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management during the second quarter valued at about $31,000. Fairway Wealth LLC boosted its position in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider's stock valued at $36,000 after buying an additional 66 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the second quarter valued at about $36,000. Fairscale Capital LLC purchased a new stake in Waste Management during the second quarter valued at about $39,000. Finally, Hexagon Capital Partners LLC boosted its position in Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider's stock valued at $42,000 after buying an additional 80 shares during the period. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

WM stock traded up $3.68 on Friday, hitting $224.12. The company had a trading volume of 1,854,171 shares, compared to its average volume of 1,366,246. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.36. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock's 50-day simple moving average is $210.21 and its 200 day simple moving average is $209.26. The stock has a market cap of $89.96 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.36 and a beta of 0.74.

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 (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter last year, the company posted $1.63 earnings per share. The firm's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, September 13th. Waste Management's dividend payout ratio is presently 45.87%.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Waste Management from $226.00 to $216.00 and set a "neutral" rating for the company in a research report on Friday, July 26th. Truist Financial increased their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Argus increased their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Waste Management from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, Morgan Stanley increased their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $226.11.

Waste Management Company 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.