Teachers Retirement System of The State of Kentucky Decreases Position in Waste Management, Inc. (NYSE:WM)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,376 shares of the business services provider’s stock after selling 1,191 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Waste Management were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. purchased a new stake in Waste Management during the first quarter valued at approximately $32,000. TFO TDC LLC bought a new position in shares of Waste Management during the first quarter valued at approximately $34,000. James Reed Financial Services Inc. bought a new position in shares of Waste Management during the fourth quarter valued at approximately $37,000. Riverview Trust Co bought a new position in shares of Waste Management during the first quarter valued at approximately $41,000. Finally, Quent Capital LLC bought a new position in shares of Waste Management during the fourth quarter valued at approximately $46,000. 74.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director John C. Pope sold 219 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $152.19, for a total transaction of $33,329.61. Following the sale, the director now owns 55,439 shares of the company’s stock, valued at approximately $8,437,261.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John J. Morris sold 22,795 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $169.82, for a total transaction of $3,871,046.90. Following the completion of the sale, the executive vice president now owns 95,461 shares in the company, valued at approximately $16,211,187.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Pope sold 219 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $152.19, for a total value of $33,329.61. Following the sale, the director now owns 55,439 shares of the company’s stock, valued at approximately $8,437,261.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,067 shares of company stock valued at $9,292,271. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Down 1.0 %

Shares of NYSE:WM opened at $169.34 on Monday. Waste Management, Inc. has a 52-week low of $138.58 and a 52-week high of $175.98. The stock has a market cap of $69.99 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of 2.51 and a beta of 0.76. The business’s 50 day moving average is $166.15 and its 200 day moving average is $159.52. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.95.

Waste Management (NYSE:WMGet Rating) last announced its earnings results on Wednesday, July 27th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.08. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Waste Management had a return on equity of 30.69% and a net margin of 11.27%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. Sell-side analysts predict that Waste Management, Inc. will post 5.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.60 annualized dividend and a yield of 1.54%. Waste Management’s dividend payout ratio (DPR) is presently 50.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WM shares. Oppenheimer set a $160.00 target price on Waste Management in a research note on Tuesday, July 19th. Morgan Stanley upped their target price on Waste Management from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Hold” and an average target price of $164.86.

Waste Management Profile

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Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

See Also

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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