ING Groep NV Decreases Stake in Waste Management, Inc. (NYSE:WM)

ING Groep NV trimmed its position in Waste Management, Inc. (NYSE:WM) by 39.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,767 shares of the business services provider’s stock after selling 92,386 shares during the period. ING Groep NV’s holdings in Waste Management were worth $29,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trium Capital LLP lifted its position in Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after purchasing an additional 3,029 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Waste Management by 77.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after buying an additional 5,367 shares during the period. Pinkerton Retirement Specialists LLC boosted its stake in shares of Waste Management by 18.6% in the first 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 last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Waste Management by 417.3% during the third 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 during the period. Finally, Swedbank AB raised its position in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Waste Management Trading Down 1.4 %

Shares of NYSE WM traded down $3.16 during trading on Thursday, hitting $222.52. 233,315 shares of the company were exchanged, compared to its average volume of 1,611,999. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.84. The company has a fifty day moving average price of $211.08 and a 200-day moving average price of $209.55. The firm has a market capitalization of $89.31 billion, a PE ratio of 34.19, a P/E/G ratio of 2.37 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share 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 analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, equities research analysts expect that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Analyst Ratings Changes

WM has been the topic of a number of analyst reports. Scotiabank initiated coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. CIBC increased their target price on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their target price on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

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.