Allen Mooney & Barnes Investment Advisors LLC Sells 277 Shares of Waste Management, Inc. (NYSE:WM)

Allen Mooney & Barnes Investment Advisors LLC reduced its position in Waste Management, Inc. (NYSE:WM) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,215 shares of the business services provider’s stock after selling 277 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Waste Management were worth $868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Waste Management in the fourth quarter valued at about $784,486,000. Mirova US LLC grew its stake in Waste Management by 26,116.4% in the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after purchasing an additional 910,418 shares during the last quarter. Capital World Investors grew its stake in Waste Management by 40.6% in the fourth quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock valued at $523,581,000 after purchasing an additional 844,298 shares during the last quarter. Global Assets Advisory LLC purchased a new position in Waste Management in the first quarter valued at about $117,299,000. Finally, OMERS ADMINISTRATION Corp grew its stake in Waste Management by 128.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock valued at $137,012,000 after purchasing an additional 504,924 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Up 1.6 %

Shares of NYSE:WM opened at $212.37 on Tuesday. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54. The company has a market capitalization of $85.18 billion, a PE ratio of 34.76, a PEG ratio of 2.43 and a beta of 0.74. The business has a 50 day moving average of $207.51 and a two-hundred day moving average of $198.95. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid 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 was Friday, June 7th. Waste Management’s payout ratio is 49.10%.

Insider Transactions at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WM shares. Truist Financial boosted their price target on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft started coverage on Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. Morgan Stanley boosted their price target on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. TD Cowen boosted their price target on Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.61.

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.