Waste Management, Inc. (NYSE:WM) Stake Boosted by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 31.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,160 shares of the business services provider's stock after purchasing an additional 1,490 shares during the quarter. Atomi Financial Group Inc.'s holdings in Waste Management were worth $1,314,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider's stock valued at $25,000 after buying an additional 75 shares during the period. Sachetta LLC purchased a new position in Waste Management in the fourth quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the second quarter worth $31,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management in the first quarter valued at $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Waste Management in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Transactions at Waste Management

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

Analyst Ratings Changes

A number of research firms recently weighed in on WM. Truist Financial lowered their price objective on shares of Waste Management from $240.00 to $235.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. Robert W. Baird cut their price objective on Waste Management from $226.00 to $216.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. CIBC lowered their target price on Waste Management from $223.00 to $213.00 and set a "neutral" rating for the company in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They set a "buy" rating and a $241.00 price target on the stock. Finally, TD Cowen upped their price objective on Waste Management from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $215.83.

Waste Management Stock Performance

Shares of Waste Management stock traded up $0.38 on Tuesday, hitting $209.20. The stock had a trading volume of 759,936 shares, compared to its average volume of 1,680,949. The company's 50 day moving average price is $209.67 and its 200 day moving average price is $208.06. The stock has a market cap of $83.96 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 2.35 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. 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 posted 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 the consensus estimate of $5.43 billion. During the same period in the prior year, the company earned $1.51 earnings per share. The company's revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.43%. Waste Management's dividend payout ratio is currently 49.10%.

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.