Oak Thistle LLC Cuts Stake in Waste Management, Inc. (NYSE:WM)

Oak Thistle LLC lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 33.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,242 shares of the business services provider’s stock after selling 631 shares during the period. Oak Thistle LLC’s holdings in Waste Management were worth $265,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WM. Hexagon Capital Partners LLC boosted its position in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Sachetta LLC bought a new stake in Waste Management during the fourth quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management during the second quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management during the first quarter valued at about $35,000. Finally, DSM Capital Partners LLC bought a new stake in Waste Management during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.1 %

Shares of WM stock opened at $208.23 on Wednesday. The stock has a 50 day moving average of $209.38 and a 200 day moving average of $208.77. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market cap of $83.57 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.51 earnings per share. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Analysts Set New Price Targets

Several brokerages have weighed in on WM. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a report on Friday, June 14th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price target for the company. Finally, BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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.