Veracity Capital LLC Sells 826 Shares of Waste Management, Inc. (NYSE:WM)

Veracity Capital LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 11.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,226 shares of the business services provider’s stock after selling 826 shares during the quarter. Veracity Capital LLC’s holdings in Waste Management were worth $1,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Waste Management by 8.5% during the third quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock worth $4,407,000 after purchasing an additional 2,272 shares during the period. Birch Hill Investment Advisors LLC lifted its holdings in shares of Waste Management by 5.5% during the fourth quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock worth $1,132,000 after purchasing an additional 332 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 13,927.7% during the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock worth $90,319,000 after purchasing an additional 500,701 shares during the period. Pacer Advisors Inc. lifted its holdings in Waste Management by 93.0% in the fourth quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock valued at $8,348,000 after buying an additional 22,455 shares during the period. Finally, DSM Capital Partners LLC acquired a new position in Waste Management in the fourth quarter valued at $38,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.3 %

Shares of NYSE:WM traded up $0.73 during midday trading on Thursday, hitting $210.20. 720,755 shares of the company’s stock were exchanged, compared to its average volume of 1,702,207. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a 50 day moving average price of $208.10 and a 200-day moving average price of $200.54. The company has a market cap of $84.31 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 2.44 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $214.54.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s payout ratio is 49.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Oppenheimer boosted their target price on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their target price on shares of Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Morgan Stanley boosted their target price on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Truist Financial upped their price objective on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.61.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

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.