Teachers Retirement System of The State of Kentucky Sells 874 Shares of Waste Management, Inc. (NYSE:WM)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,399 shares of the business services provider’s stock after selling 874 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Waste Management were worth $6,272,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Aldebaran Financial Inc. raised its stake in Waste Management by 2.1% in the second quarter. Aldebaran Financial Inc. now owns 10,721 shares of the business services provider’s stock worth $2,287,000 after buying an additional 222 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new stake in Waste Management during the 2nd quarter worth approximately $332,000. Granite Bay Wealth Management LLC acquired a new stake in Waste Management during the 2nd quarter worth about $853,000. Advisory Alpha LLC boosted its holdings in shares of Waste Management by 7.6% in the 2nd quarter. Advisory Alpha LLC now owns 5,065 shares of the business services provider’s stock valued at $1,081,000 after acquiring an additional 358 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in Waste Management by 50.6% during the second quarter. EP Wealth Advisors LLC now owns 13,766 shares of the business services provider’s stock worth $2,937,000 after acquiring an additional 4,628 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management 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 transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WM shares. Truist Financial cut their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. CIBC cut their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Oppenheimer dropped their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Robert W. Baird dropped their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Price Performance

Shares of WM opened at $207.32 on Thursday. The company has a market capitalization of $83.20 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. 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 50-day simple moving average of $206.34 and a 200-day simple moving average of $208.57. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

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, 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 company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. Waste Management’s dividend payout ratio is presently 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.