New York State Teachers Retirement System Trims Stock Position in Waste Management, Inc. (NYSE:WM)

New York State Teachers Retirement System reduced its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 303,888 shares of the business services provider's stock after selling 16,761 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Waste Management worth $64,831,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. ARS Wealth Advisors Group LLC lifted its stake in Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider's stock valued at $336,000 after buying an additional 47 shares during the period. McClarren Financial Advisors Inc. raised its position in shares of Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider's stock worth $46,000 after purchasing an additional 49 shares during the period. Mayflower Financial Advisors LLC grew its holdings in shares of Waste Management by 1.2% during the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider's stock worth $911,000 after buying an additional 50 shares in the last quarter. Cypress Asset Management Inc. TX grew its holdings in shares of Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider's stock worth $907,000 after buying an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC grew its holdings in shares of Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider's stock worth $290,000 after buying an additional 50 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the firm's stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the firm's stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

WM has been the subject of several research analyst reports. Truist Financial reduced their target price on Waste Management from $240.00 to $235.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. Raymond James lifted their target price on Waste Management from $219.00 to $229.00 and gave the stock an "outperform" rating in a research note on Friday, April 26th. Morgan Stanley lifted their target price on Waste Management from $202.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, April 26th. CIBC dropped their price target on Waste Management from $223.00 to $213.00 and set a "neutral" rating for the company in a report on Friday, July 26th. Finally, StockNews.com cut Waste Management from a "strong-buy" rating to a "buy" rating in a report on Thursday, July 25th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and an average price target of $215.83.

Waste Management Stock Performance

Shares of WM stock traded down $0.14 during trading on Friday, hitting $209.98. The company's stock had a trading volume of 797,174 shares, compared to its average volume of 1,691,846. The company has a market cap of $84.22 billion, a PE ratio of 34.37, a P/E/G ratio of 2.30 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The business has a fifty day moving average of $209.62 and a 200-day moving average of $207.66. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the company earned $1.51 earnings per share. Waste Management's revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

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.