Elo Mutual Pension Insurance Co Sells 2,411 Shares of Waste Management, Inc. (NYSE:WM)

Elo Mutual Pension Insurance Co decreased its holdings in Waste Management, Inc. (NYSE:WM) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,391 shares of the business services provider’s stock after selling 2,411 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Waste Management were worth $7,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blair William & Co. IL raised its position in shares of Waste Management by 2.2% in the second quarter. Blair William & Co. IL now owns 60,003 shares of the business services provider’s stock valued at $12,801,000 after purchasing an additional 1,270 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Waste Management by 5.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,837 shares of the business services provider’s stock valued at $9,131,000 after buying an additional 2,302 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Waste Management by 9.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 55,212 shares of the business services provider’s stock valued at $11,779,000 after acquiring an additional 4,749 shares during the period. Purus Wealth Management LLC grew its stake in Waste Management by 4.9% during the second quarter. Purus Wealth Management LLC now owns 40,763 shares of the business services provider’s stock worth $8,696,000 after buying an additional 1,905 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in shares of Waste Management by 3.1% in the 2nd quarter. Axxcess Wealth Management LLC now owns 14,820 shares of the business services provider’s stock valued at $3,162,000 after buying an additional 439 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other 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 owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Down 2.5 %

Shares of NYSE:WM opened at $203.14 on Wednesday. The business has a fifty day simple moving average of $209.06 and a 200 day simple moving average of $208.78. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The firm has a market cap of $81.48 billion, a P/E ratio of 33.25, a P/E/G ratio of 2.33 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. Waste Management’s payout ratio is 49.10%.

Analyst Upgrades and Downgrades

WM has been the topic of a number of recent analyst reports. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target for the company. Robert W. Baird decreased their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Truist Financial dropped their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

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.