Waste Management, Inc. (NYSE:WM) Holdings Cut by BayBridge Capital Group LLC

BayBridge Capital Group LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,006 shares of the business services provider’s stock after selling 335 shares during the quarter. BayBridge Capital Group LLC’s holdings in Waste Management were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bartlett & CO. Wealth Management LLC raised its stake in shares of Waste Management by 0.8% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 278,185 shares of the business services provider’s stock worth $56,135,000 after purchasing an additional 2,127 shares in the last quarter. Nordea Investment Management AB raised its position in Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after acquiring an additional 280,455 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Waste Management by 77.4% in the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 5,367 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Waste Management by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock worth $99,759,000 after purchasing an additional 28,266 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Waste Management by 32.3% in the 4th quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider’s stock valued at $1,529,000 after purchasing an additional 1,798 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE:WM opened at $224.94 on Friday. The business’s 50 day moving average is $211.90 and its 200-day moving average is $211.43. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $90.28 billion, a PE ratio of 33.08, a PEG ratio of 2.70 and a beta of 0.78. Waste Management, Inc. has a 1-year low of $187.48 and a 1-year high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is 44.12%.

Analysts Set New Price Targets

WM has been the topic of several analyst reports. Scotiabank increased their target price on shares of Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Morgan Stanley increased their price objective on Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Truist Financial boosted their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. CIBC increased their price target on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Citigroup upped their price objective on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned 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 $234.50.

Insider Transactions at Waste Management

In other news, SVP Tara J. Hemmer sold 4,576 shares of Waste Management stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total value of $1,016,421.12. Following the completion of the transaction, the senior vice president now owns 58,765 shares in the company, valued at approximately $13,052,881.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Johnson Varkey sold 560 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now owns 9,152 shares in the company, valued at approximately $2,014,446.72. This trade represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,055 shares of company stock valued at $3,578,340. Corporate insiders own 0.18% of the company’s stock.

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.