Waste Management, Inc. (NYSE:WM) Stock Position Decreased by Dark Forest Capital Management LP

Dark Forest Capital Management LP trimmed its stake in shares of Waste Management, Inc. (NYSE:WM) by 44.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,155 shares of the business services provider’s stock after selling 916 shares during the period. Dark Forest Capital Management LP’s holdings in Waste Management were worth $246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WM. Hexagon Capital Partners LLC lifted its holdings in shares of Waste Management by 170.5% in 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. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the 2nd quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management during the 1st quarter valued at about $35,000. Fairway Wealth LLC increased its holdings in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Finally, Fairscale Capital LLC purchased a new stake in shares of Waste Management in the second quarter worth approximately $39,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were 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 of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WM has been the topic of several research reports. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer cut their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Truist Financial lowered their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada dropped their price objective 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. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Stock Performance

NYSE:WM opened at $205.51 on Monday. The firm has a market capitalization of $82.43 billion, a PE ratio of 33.64, a PEG ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00. 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 firm’s fifty day simple moving average is $207.07 and its 200 day simple moving average is $208.62.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the business posted $1.51 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Waste Management’s dividend 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.