SYSTM Wealth Solutions LLC Sells 5,742 Shares of Waste Management, Inc. (NYSE:WM)

SYSTM Wealth Solutions LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 37.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,577 shares of the business services provider's stock after selling 5,742 shares during the quarter. SYSTM Wealth Solutions LLC's holdings in Waste Management were worth $2,043,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Axxcess Wealth Management LLC boosted its holdings in shares of Waste Management by 3.1% during the second quarter. Axxcess Wealth Management LLC now owns 14,820 shares of the business services provider's stock worth $3,162,000 after acquiring an additional 439 shares during the period. Fairway Wealth LLC increased its position in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider's stock worth $36,000 after buying an additional 66 shares during the period. Clearstead Trust LLC boosted its position in shares of Waste Management by 0.9% in the second quarter. Clearstead Trust LLC now owns 19,534 shares of the business services provider's stock valued at $4,167,000 after acquiring an additional 177 shares during the period. Old West Investment Management LLC acquired a new position in shares of Waste Management in the second quarter valued at about $416,000. Finally, Moors & Cabot Inc. raised its stake in Waste Management by 0.6% in the 2nd quarter. Moors & Cabot Inc. now owns 59,306 shares of the business services provider's stock worth $12,652,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the 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 completion of the sale, the vice president now directly owns 44,144 shares of the company's stock, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WM shares. StockNews.com cut Waste Management from a "strong-buy" rating to a "buy" rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They issued a "buy" rating and a $241.00 target price for the company. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a "buy" rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada lowered their price objective on shares of Waste Management from $215.00 to $204.00 and set a "sector perform" rating for the company in a research report on Friday, July 26th. Finally, Oppenheimer decreased their price target on Waste Management from $229.00 to $224.00 and set an "outperform" rating on the stock in a research note on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and a consensus price target of $215.83.

Waste Management Trading Down 0.6 %

Shares of Waste Management stock traded down $1.24 on Wednesday, reaching $201.88. 1,506,698 shares of the company's stock were exchanged, compared to its average volume of 1,673,667. The firm's 50-day moving average is $209.06 and its two-hundred day moving average is $208.78. The company has a market capitalization of $81.02 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 2.33 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. 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 released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The business's revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management's dividend payout ratio is currently 49.10%.

About Waste Management

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.