Miramar Capital LLC Cuts Stock Holdings in Waste Management, Inc. (NYSE:WM)

Miramar Capital LLC reduced its position in Waste Management, Inc. (NYSE:WM) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,026 shares of the business services provider’s stock after selling 143 shares during the period. Waste Management comprises approximately 2.4% of Miramar Capital LLC’s holdings, making the stock its 27th largest position. Miramar Capital LLC’s holdings in Waste Management were worth $9,606,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WM. Gryphon Financial Partners LLC grew its stake in shares of Waste Management by 83.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,770 shares of the business services provider’s stock worth $838,000 after acquiring an additional 2,176 shares during the period. Sachetta LLC bought a new stake in Waste Management in the 4th quarter worth approximately $27,000. Trexquant Investment LP purchased a new stake in Waste Management during the 4th quarter valued at $1,673,000. Assetmark Inc. lifted its holdings in shares of Waste Management by 41.5% during the 4th quarter. Assetmark Inc. now owns 1,969 shares of the business services provider’s stock valued at $353,000 after buying an additional 577 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Waste Management by 2.9% in the 4th quarter. Franklin Resources Inc. now owns 343,694 shares of the business services provider’s stock worth $61,556,000 after buying an additional 9,683 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the topic of a number of recent research reports. Royal Bank of Canada lowered 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. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. BMO Capital Markets dropped their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Finally, Truist Financial lowered their price target on 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 analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated 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 SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

Waste Management Trading Down 0.6 %

Shares of NYSE WM opened at $201.85 on Thursday. The stock has a market capitalization of $81.01 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The business has a fifty day moving average price of $208.87 and a 200 day moving average price of $208.73. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00.

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

Waste Management Dividend Announcement

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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. Waste Management’s payout ratio is 49.10%.

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.