Waste Management, Inc. (NYSE:WM) Position Decreased by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC trimmed its stake in Waste Management, Inc. (NYSE:WM) by 4.7% during the second quarter, HoldingsChannel.com reports. The fund owned 59,307 shares of the business services provider’s stock after selling 2,902 shares during the period. Waste Management makes up approximately 1.5% of MainStreet Investment Advisors LLC’s holdings, making the stock its 18th biggest position. MainStreet Investment Advisors LLC’s holdings in Waste Management were worth $12,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC boosted its position in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares during the period. Sachetta LLC acquired a new stake in Waste Management during the 4th quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management during the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Waste Management in the 1st quarter valued at about $35,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of Waste Management during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WM shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Robert W. Baird reduced their price objective on 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 report on Friday, July 26th. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Finally, CIBC reduced their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Price Performance

NYSE WM opened at $204.73 on Friday. The stock has a market capitalization of $82.11 billion, a PE ratio of 33.51, a P/E/G ratio of 2.34 and a beta of 0.74. The stock has a 50-day simple moving average of $209.43 and a 200 day simple moving average of $208.73. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00.

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

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.47%. Waste Management’s dividend payout ratio is 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated 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 transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.