Pacer Advisors Inc. Has $8.94 Million Holdings in Waste Management, Inc. (NYSE:WM)

Pacer Advisors Inc. trimmed its position in Waste Management, Inc. (NYSE:WM) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,925 shares of the business services provider’s stock after selling 3,053 shares during the quarter. Pacer Advisors Inc.’s holdings in Waste Management were worth $8,944,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. ARS Wealth Advisors Group LLC raised its stake in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in shares of Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 49 shares in the last quarter. Mayflower Financial Advisors LLC raised its stake in shares of Waste Management by 1.2% in the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after purchasing an additional 50 shares in the last quarter. Cypress Asset Management Inc. TX raised its stake in shares of Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC grew its position in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after acquiring an additional 50 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on WM. BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada decreased their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Price Performance

Waste Management stock opened at $207.13 on Tuesday. The business’s 50-day simple moving average is $208.35 and its 200 day simple moving average is $208.70. The stock has a market cap of $83.08 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. 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 (NYSE:WM) last released its 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 firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

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.