Waste Management, Inc. (NYSE:WM) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 8.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,906 shares of the business services provider's stock after selling 4,960 shares during the quarter. Hemenway Trust Co LLC's holdings in Waste Management were worth $11,287,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. 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 worth $25,000 after acquiring an additional 75 shares during the period. Sachetta LLC purchased a new stake in Waste Management in the fourth quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management in the second quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management in the first quarter worth about $35,000. Finally, DSM Capital Partners LLC purchased a new stake in Waste Management in the fourth quarter worth about $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE:WM traded down $3.66 during midday trading on Friday, reaching $204.74. 2,349,499 shares of the company's stock traded hands, compared to its average volume of 1,672,766. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00. The company has a market cap of $82.12 billion, a P/E ratio of 33.51, a PEG ratio of 2.34 and a beta of 0.74. 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 fifty day simple moving average of $209.43 and a two-hundred day simple moving average of $208.68.

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 analysts' consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 EPS. Equities analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management's dividend payout ratio (DPR) is presently 49.10%.

Analysts Set New Price Targets

WM has been the subject of several analyst reports. Robert W. Baird decreased 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 cut their price objective on shares of Waste Management from $240.00 to $235.00 and set a "buy" rating on the stock in a report on Thursday, July 11th. BMO Capital Markets cut their price objective on shares of Waste Management from $215.00 to $213.00 and set a "market perform" rating on the stock in a report on Friday, July 26th. CIBC cut their price objective on shares of Waste Management from $223.00 to $213.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a report on Wednesday, May 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $215.83.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm's 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 completion of the sale, the vice president now directly owns 44,144 shares of the company's stock, valued at approximately $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

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.