Dai ichi Life Insurance Company Ltd Sells 8,691 Shares of Waste Management, Inc. (NYSE:WM)

Dai ichi Life Insurance Company Ltd lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,031 shares of the business services provider’s stock after selling 8,691 shares during the quarter. Waste Management accounts for about 0.7% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 28th largest position. Dai ichi Life Insurance Company Ltd’s holdings in Waste Management were worth $29,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of WM. ARS Wealth Advisors Group LLC lifted its position in shares of Waste Management by 3.1% during the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after acquiring an additional 47 shares during the period. McClarren Financial Advisors Inc. lifted its position in Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after purchasing an additional 49 shares during the period. Mayflower Financial Advisors LLC grew its stake in Waste Management by 1.2% during the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after buying an additional 50 shares in the last quarter. Cypress Asset Management Inc. TX increased its holdings in Waste Management by 1.2% in the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after buying an additional 50 shares during the period. Finally, GYL Financial Synergies LLC raised its position in shares of Waste Management by 3.8% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Up 0.5 %

Shares of NYSE WM opened at $208.05 on Friday. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company’s 50 day moving average price is $209.24 and its 200-day moving average price is $208.76. The company has a market capitalization of $83.49 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Finally, Truist Financial cut their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus 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.