Employees Retirement System of Texas Has $62.33 Million Holdings in Waste Management, Inc. (NYSE:WM)

Employees Retirement System of Texas grew its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 5.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 292,153 shares of the business services provider's stock after buying an additional 14,153 shares during the period. Employees Retirement System of Texas owned approximately 0.07% of Waste Management worth $62,328,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Sustainable Growth Advisers LP bought a new position in Waste Management during the first quarter valued at $300,594,000. Capital World Investors grew its holdings in Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider's stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Swedbank AB purchased a new stake in Waste Management in the 1st quarter worth about $193,955,000. Wulff Hansen & CO. lifted its stake in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider's stock worth $185,196,000 after purchasing an additional 863,846 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its position in shares of Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider's stock valued at $333,234,000 after buying an additional 720,358 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BMO Capital Markets dropped their price objective on Waste Management from $215.00 to $213.00 and set a "market perform" rating for the company in a report on Friday, July 26th. CIBC cut their price target 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. Robert W. Baird decreased their price objective on shares of Waste Management from $226.00 to $216.00 and set a "neutral" rating for the company in a report on Friday, July 26th. Erste Group Bank restated a "hold" rating on shares of Waste Management in a research note on Friday, June 14th. Finally, Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a "buy" rating for the company in a report on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $215.83.

Waste Management Price Performance

NYSE:WM traded down $2.35 during trading hours on Thursday, reaching $205.34. 1,500,347 shares of the company's stock were exchanged, compared to its average volume of 1,668,792. The business's 50-day simple moving average is $207.78 and its two-hundred day simple moving average is $208.69. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The company has a market capitalization of $82.41 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74.

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

Waste Management Dividend Announcement

The company also recently declared 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. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management's dividend payout ratio (DPR) is presently 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.