Allstate Corp Decreases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Allstate Corp cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,300 shares of the business services provider’s stock after selling 78 shares during the period. Allstate Corp’s holdings in Waste Management were worth $277,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Hexagon Capital Partners LLC raised its stake in Waste Management by 170.5% in the 1st 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 during the last quarter. Sachetta LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management in the first quarter worth about $35,000. Gilfoyle & Co LLC acquired a new position in Waste Management during the fourth quarter worth about $30,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Waste Management during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Oppenheimer boosted their price objective on Waste Management from $228.00 to $229.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Robert W. Baird boosted their price target on shares of Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. Finally, Raymond James raised their price objective on shares of Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Eleven 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 company’s stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.39.

Waste Management Trading Up 0.3 %

NYSE:WM traded up $0.65 during trading hours on Monday, reaching $223.45. 1,134,955 shares of the stock were exchanged, compared to its average volume of 1,692,259. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The business has a 50-day moving average of $209.43 and a two-hundred day moving average of $203.88. The company has a market capitalization of $89.62 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 2.59 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the business posted $1.31 EPS. On average, equities analysts predict that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Buying and Selling at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the business’s 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 completion of the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Company 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.