Waste Management, Inc. $WM Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. cut its holdings in Waste Management, Inc. (NYSE:WM) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 309,545 shares of the business services provider’s stock after selling 14,113 shares during the quarter. Baird Financial Group Inc. owned approximately 0.08% of Waste Management worth $70,830,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. McAdam LLC grew its holdings in Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after buying an additional 44 shares during the last quarter. Syntegra Private Wealth Group LLC lifted its position in shares of Waste Management by 2.0% in the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after acquiring an additional 44 shares in the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of Waste Management by 1.1% during the second quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after acquiring an additional 45 shares during the last quarter. KWB Wealth increased its position in Waste Management by 1.3% during the 2nd quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock worth $835,000 after purchasing an additional 47 shares in the last quarter. Finally, D.B. Root & Company LLC raised its stake in Waste Management by 3.0% in the 2nd quarter. D.B. Root & Company LLC now owns 1,603 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 47 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

NYSE WM opened at $214.03 on Friday. The business’s 50-day simple moving average is $212.18 and its 200-day simple moving average is $222.91. The firm has a market capitalization of $86.23 billion, a P/E ratio of 33.71, a P/E/G ratio of 2.67 and a beta of 0.58. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $242.58. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the firm earned $1.96 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, December 5th. Waste Management’s dividend payout ratio is currently 51.97%.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on WM. JPMorgan Chase & Co. lifted their price target on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial set a $260.00 target price on shares of Waste Management in a research report on Wednesday, October 29th. Sanford C. Bernstein began coverage on Waste Management in a report on Wednesday, November 12th. They issued an “outperform” rating and a $255.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a report on Wednesday, October 29th. Finally, Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $238.00 to $242.00 in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $249.14.

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.