Algebris UK Ltd Trims Stock Position in Waste Management, Inc. (NYSE:WM)

Algebris UK Ltd lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,550 shares of the business services provider’s stock after selling 1,122 shares during the quarter. Algebris UK Ltd’s holdings in Waste Management were worth $701,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its holdings in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the last quarter. Sachetta LLC purchased a new position in shares of Waste Management during the fourth quarter worth $27,000. Gilfoyle & Co LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management in the 1st quarter valued at $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Waste Management during the 4th quarter worth about $36,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WM has been the subject of several research reports. Truist Financial dropped their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen lifted their price objective on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Raymond James raised their target price on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Oppenheimer increased their price objective on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.33.

Insider Transactions at Waste Management

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

Waste Management Price Performance

Shares of NYSE:WM traded up $1.98 during trading on Friday, hitting $213.75. 1,182,062 shares of the stock were exchanged, compared to its average volume of 1,436,661. The company has a market cap of $85.73 billion, a PE ratio of 34.98, a P/E/G ratio of 2.46 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. The company has a fifty day moving average price of $208.36 and a two-hundred day moving average price of $202.05. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54.

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

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. Waste Management’s dividend payout ratio is currently 49.10%.

About Waste Management

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.