Retirement Systems of Alabama Has $49.43 Million Stock Holdings in Waste Management, Inc. (NYSE:WM)

Retirement Systems of Alabama cut its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238,109 shares of the business services provider's stock after selling 18,966 shares during the quarter. Retirement Systems of Alabama owned about 0.06% of Waste Management worth $49,431,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in Waste Management by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider's stock valued at $1,686,203,000 after buying an additional 168,818 shares during the last quarter. Parnassus Investments LLC raised its stake in Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider's stock worth $1,063,072,000 after acquiring an additional 520,096 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Waste Management by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider's stock worth $969,401,000 after purchasing an additional 12,664 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider's stock valued at $820,539,000 after acquiring an additional 243,900 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider's stock worth $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company's stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Price Performance

NYSE WM traded down $1.25 during trading on Friday, reaching $213.20. 1,344,390 shares of the company traded hands, compared to its average volume of 1,613,531. Waste Management, Inc. has a 1-year low of $173.01 and a 1-year high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock's 50 day moving average price is $217.66 and its two-hundred day moving average price is $211.40. The company has a market cap of $85.57 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 2.26 and a beta of 0.75.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management's payout ratio is 45.87%.

Analyst Ratings Changes

A number of analysts have recently commented on WM shares. Argus boosted their price objective on Waste Management from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. BMO Capital Markets increased their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Waste Management from $213.00 to $219.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. William Blair initiated coverage on Waste Management in a research note on Thursday, October 3rd. They set an "outperform" rating for the company. Finally, Truist Financial raised their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $230.72.

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.