Waste Management, Inc. (NYSE:WM) Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,873,529 shares of the business services provider’s stock after selling 34,671 shares during the period. Bank of New York Mellon Corp owned approximately 0.72% of Waste Management worth $613,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Hexagon Capital Partners LLC grew its holdings in Waste Management by 170.5% during the first 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 worth $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management in the second quarter worth $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management in the first quarter worth $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Waste Management in the fourth quarter worth $36,000. Institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

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

Waste Management Price Performance

Shares of WM stock traded down $1.23 during trading hours on Monday, hitting $208.75. 546,247 shares of the company’s stock were exchanged, compared to its average volume of 1,684,936. The company has a market capitalization of $83.78 billion, a PE ratio of 34.49, a PEG ratio of 2.35 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The business’s 50 day simple moving average is $209.62 and its 200-day simple moving average is $207.92. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. The firm’s revenue for the quarter 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.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price target for the company. 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 report on Thursday, July 11th. Oppenheimer cut their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. BMO Capital Markets lowered their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” 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 research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

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.