Strategy Asset Managers LLC Sells 2,648 Shares of Waste Management, Inc. (NYSE:WM)

Strategy Asset Managers LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,535 shares of the business services provider's stock after selling 2,648 shares during the period. Strategy Asset Managers LLC's holdings in Waste Management were worth $4,808,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Hexagon Capital Partners LLC lifted its stake in Waste Management by 170.5% in the first 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 bought a new position in Waste Management during the 4th quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Waste Management during the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management in the first quarter valued at approximately $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Waste Management in the fourth quarter worth $36,000. Institutional investors own 80.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. 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. BMO Capital Markets dropped their price target on Waste Management from $215.00 to $213.00 and set a "market perform" rating on the stock in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft started coverage on Waste Management in a research report on Wednesday, May 22nd. They issued a "buy" rating and a $241.00 price objective for the company. Erste Group Bank restated a "hold" rating on shares of Waste Management in a report on Friday, June 14th. Finally, The Goldman Sachs Group raised shares of Waste Management to a "strong-buy" rating in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.83.

Waste Management Stock Down 0.1 %

WM traded down $0.13 on Wednesday, hitting $209.27. 1,186,667 shares of the company were exchanged, compared to its average volume of 1,671,884. The stock's fifty day moving average is $209.68 and its 200-day moving average is $208.66. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a market cap of $83.98 billion, a PE ratio of 34.25, a PEG ratio of 2.37 and a beta of 0.74.

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

Waste Management Announces Dividend

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

Insider Activity

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

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.