Csenge Advisory Group Sells 49 Shares of Waste Management, Inc. (NYSE:WM)

Csenge Advisory Group reduced its holdings in Waste Management, Inc. (NYSE:WM) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,173 shares of the business services provider’s stock after selling 49 shares during the quarter. Csenge Advisory Group’s holdings in Waste Management were worth $463,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Catalina Capital Group LLC bought a new stake in Waste Management in the first quarter worth approximately $413,000. Avidian Wealth Solutions LLC increased its holdings in Waste Management by 3.8% in the first quarter. Avidian Wealth Solutions LLC now owns 3,547 shares of the business services provider’s stock worth $756,000 after purchasing an additional 131 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Waste Management in the first quarter worth approximately $43,390,000. Larson Financial Group LLC increased its holdings in shares of Waste Management by 4.4% during the first quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 52 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Waste Management during the first quarter valued at approximately $347,000. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Truist Financial cut their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen boosted their target price on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, April 29th. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Morgan Stanley boosted their price objective on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, CIBC boosted their price objective on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.33.

Insider Transactions at Waste Management

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

Waste Management Stock Performance

NYSE WM traded up $1.31 on Thursday, hitting $212.49. 473,350 shares of the company traded hands, compared to its average volume of 1,702,267. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The business’s 50 day moving average price is $208.16 and its 200-day moving average price is $201.72. The company has a market capitalization of $85.23 billion, a price-to-earnings ratio of 34.56, a P/E/G ratio of 2.45 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 earnings per share. Equities analysts expect that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, June 7th. Waste Management’s 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.