Waste Management, Inc. (NYSE:WM) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its holdings in Waste Management, Inc. (NYSE:WM) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,067 shares of the business services provider’s stock after selling 23,747 shares during the period. Martingale Asset Management L P’s holdings in Waste Management were worth $31,569,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Parnassus Investments LLC raised its holdings in shares of 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 in the last quarter. Ameriprise Financial Inc. boosted its holdings in Waste Management by 0.3% in the second 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 in the last quarter. Legal & General Group Plc boosted its stake in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after acquiring an additional 243,900 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 valued at $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Waste Management by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after purchasing an additional 221,380 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Waste Management Stock Performance

Shares of Waste Management stock opened at $228.46 on Friday. The stock’s fifty day simple moving average is $214.69 and its 200 day simple moving average is $210.57. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $230.39. The company has a market capitalization of $91.70 billion, a PE ratio of 34.93, a PEG ratio of 2.40 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. On average, research analysts predict that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The business 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 $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their target price on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $228.94.

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.