Chesapeake Wealth Management Has $314,000 Stock Position in Waste Management, Inc. (NYSE:WM)

Chesapeake Wealth Management cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 6.8% in the second quarter, Holdings Channel reports. The firm owned 1,474 shares of the business services provider’s stock after selling 108 shares during the quarter. Chesapeake Wealth Management’s holdings in Waste Management were worth $314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its position in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management during the second quarter worth about $31,000. Opal Wealth Advisors LLC acquired a new position in Waste Management in the first quarter valued at about $35,000. Fairway Wealth LLC increased its holdings in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $38,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer lowered their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Robert W. Baird lowered their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, Truist Financial cut their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Trading Down 0.3 %

NYSE WM opened at $204.10 on Friday. The company has a market cap of $81.86 billion, a PE ratio of 33.40, a PEG 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 stock has a 50 day moving average of $208.53 and a 200-day moving average of $208.68. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last announced 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 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 company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.47%. Waste Management’s dividend payout ratio is 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction 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 sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Company 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.