Waste Management, Inc. (NYSE:WM) Stock Position Decreased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in Waste Management, Inc. (NYSE:WM) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,813 shares of the business services provider’s stock after selling 959 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Waste Management were worth $2,245,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. TIAA Trust National Association boosted its position in Waste Management by 5.2% during the 1st quarter. TIAA Trust National Association now owns 19,675 shares of the business services provider’s stock worth $4,194,000 after acquiring an additional 966 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in Waste Management by 11.4% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,724 shares of the business services provider’s stock worth $2,286,000 after purchasing an additional 1,094 shares during the period. Patten & Patten Inc. TN bought a new position in Waste Management in the 1st quarter valued at about $211,000. Edgestream Partners L.P. raised its position in shares of Waste Management by 202.7% during the 1st quarter. Edgestream Partners L.P. now owns 16,655 shares of the business services provider’s stock worth $3,550,000 after buying an additional 11,152 shares in the last quarter. Finally, Catalytic Wealth RIA LLC boosted its holdings in shares of Waste Management by 19.3% in the first quarter. Catalytic Wealth RIA LLC now owns 2,375 shares of the business services provider’s stock valued at $506,000 after acquiring an additional 384 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WM has been the subject of a number of research reports. BMO Capital Markets increased their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer increased their target price on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada upped their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.11.

Waste Management Stock Down 1.7 %

NYSE:WM opened at $217.90 on Friday. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84. The firm has a market capitalization of $87.46 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average price is $211.61 and its two-hundred day moving average price is $209.68.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. Equities research analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate 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.