STAR Financial Bank Sells 884 Shares of Waste Management, Inc. (NYSE:WM)

STAR Financial Bank trimmed its position in Waste Management, Inc. (NYSE:WM) by 20.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,547 shares of the business services provider’s stock after selling 884 shares during the quarter. STAR Financial Bank’s holdings in Waste Management were worth $757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Waste Management in the fourth quarter valued at approximately $784,486,000. Sustainable Growth Advisers LP acquired a new position in Waste Management in the first quarter valued at about $300,594,000. Capital World Investors boosted its holdings in Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares during the last quarter. Swedbank AB acquired a new stake in Waste Management in the first quarter worth $193,955,000. Finally, AMF Tjanstepension AB grew its stake in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after acquiring an additional 720,358 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

NYSE:WM opened at $208.23 on Wednesday. The company has a market cap of $83.52 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.29 and a beta of 0.74. The firm’s fifty day moving average price is $209.38 and its two-hundred day moving average price is $208.77. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. Equities analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management’s payout ratio is 49.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WM shares. CIBC dropped their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. BMO Capital Markets cut their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. 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 shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Truist Financial lowered their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

Waste Management Company 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.