Waste Management, Inc. (NYSE:WM) Stake Lessened by SlateStone Wealth LLC

SlateStone Wealth LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,133 shares of the business services provider’s stock after selling 176 shares during the period. SlateStone Wealth LLC’s holdings in Waste Management were worth $455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WM. Addison Capital Co lifted its stake in Waste Management by 16.1% during the second quarter. Addison Capital Co now owns 5,661 shares of the business services provider’s stock valued at $1,208,000 after purchasing an additional 784 shares during the last quarter. MinichMacGregor Wealth Management LLC purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $209,000. Wedgewood Investors Inc. PA purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $1,312,000. Calamos Wealth Management LLC lifted its position in shares of Waste Management by 2.3% in the 2nd quarter. Calamos Wealth Management LLC now owns 58,914 shares of the business services provider’s stock valued at $12,569,000 after acquiring an additional 1,305 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its position in shares of Waste Management by 5.7% in the 2nd quarter. Independence Bank of Kentucky now owns 7,617 shares of the business services provider’s stock valued at $1,625,000 after acquiring an additional 409 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Royal Bank of Canada cut their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company 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. Finally, Truist Financial cut their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Eleven research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Price Performance

Shares of Waste Management stock opened at $208.87 on Tuesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The firm has a fifty day moving average price of $209.67 and a two-hundred day moving average price of $208.06. The company has a market cap of $83.82 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.35 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $1.51 EPS. Analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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.