Waste Management, Inc. (NYSE:WM) Stock Position Increased by Legal & General Group Plc

Legal & General Group Plc grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,846,152 shares of the business services provider's stock after purchasing an additional 243,900 shares during the period. Legal & General Group Plc owned approximately 0.96% of Waste Management worth $820,539,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management in the first quarter valued at about $300,594,000. Capital World Investors boosted its holdings in Waste Management by 44.6% in 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 in the last quarter. Swedbank AB acquired a new position in Waste Management during the 1st quarter worth approximately $193,955,000. Wulff Hansen & CO. lifted its holdings in shares of Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider's stock valued at $185,196,000 after buying an additional 863,846 shares during the period. Finally, AMF Tjanstepension AB boosted its stake in shares of Waste Management by 85.6% in 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 in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on WM shares. Robert W. Baird cut their price objective on Waste Management from $226.00 to $216.00 and set a "neutral" rating for the company in a research 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 for the company in a report on Friday, July 26th. Truist Financial decreased 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. The Goldman Sachs Group raised shares of Waste Management to a "strong-buy" rating in a report on Friday, July 26th. Finally, Erste Group Bank restated a "hold" rating on shares of Waste Management in a report on Friday, June 14th. Eleven investment 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's stock. According to data from MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and a consensus price target of $215.83.

Insider Buying and Selling

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 transaction of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.18% of the company's stock.

Waste Management Trading Up 0.1 %

Shares of NYSE WM traded up $0.17 during midday trading on Friday, reaching $205.51. 1,458,049 shares of the stock were exchanged, compared to its average volume of 1,668,036. The stock has a 50 day moving average price of $207.42 and a 200-day moving average price of $208.67. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $82.48 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.32 and a beta of 0.74. 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 issued its quarterly earnings results 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 company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $1.51 EPS. Waste Management's revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced 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 1.46%. Waste Management's dividend payout ratio is presently 49.10%.

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.