State of Alaska Department of Revenue Lowers Holdings in Waste Management, Inc. (NYSE:WM)

State of Alaska Department of Revenue trimmed its position in Waste Management, Inc. (NYSE:WM) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,321 shares of the business services provider’s stock after selling 2,900 shares during the quarter. State of Alaska Department of Revenue’s holdings in Waste Management were worth $9,823,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Trium Capital LLP lifted its holdings in shares of Waste Management by 33.6% in the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after buying an additional 3,029 shares during the period. Pinkerton Retirement Specialists LLC lifted its holdings in shares of Waste Management by 18.6% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after buying an additional 3,145 shares during the period. Norden Group LLC purchased a new stake in shares of Waste Management in the 1st quarter worth $7,146,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Waste Management by 417.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Swedbank AB raised its position in shares of Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Down 1.0 %

Shares of WM stock opened at $206.80 on Monday. The stock’s 50-day simple moving average is $208.77 and its 200-day simple moving average is $208.56. 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 firm has a market capitalization of $82.99 billion, a PE ratio of 32.88, a P/E/G ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a fifty-two week low of $160.90 and a fifty-two week high of $225.00.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. Waste Management’s payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

WM has been the subject of several recent research reports. Robert W. Baird reduced their price target 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. CIBC reduced their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reduced their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Finally, Truist Financial reduced their target price on 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, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

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.