New York State Teachers Retirement System Has $60.09 Million Holdings in Waste Management, Inc. (NYSE:WM)

Posted by Defense World Staff on Apr 10th, 2023

New York State Teachers Retirement System trimmed its holdings in Waste Management, Inc. (NYSE:WM – Get Rating) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 383,050 shares of the business services provider’s stock after selling 8,584 shares during the period. New York State Teachers Retirement System owned about 0.09% of Waste Management worth $60,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of WM. McClarren Financial Advisors Inc. bought a new stake in Waste Management during the 3rd quarter worth approximately $25,000. Twin Lakes Capital Management LLC acquired a new stake in shares of Waste Management in the 3rd quarter valued at about $31,000. TD Capital Management LLC bought a new stake in shares of Waste Management in the third quarter valued at about $33,000. Tortoise Investment Management LLC boosted its position in shares of Waste Management by 232.1% during the third quarter. Tortoise Investment Management LLC now owns 269 shares of the business services provider’s stock worth $43,000 after buying an additional 188 shares during the period. Finally, HBC Financial Services PLLC bought a new position in shares of Waste Management during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 78.48% of the company’s stock.

Waste Management Stock Up 0.5 %

WM opened at $163.66 on Monday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.77 and a current ratio of 0.81. The stock has a fifty day moving average of $153.86 and a 200-day moving average of $157.66. Waste Management, Inc. has a fifty-two week low of $138.89 and a fifty-two week high of $175.98. The company has a market capitalization of $66.57 billion, a P/E ratio of 30.36, a P/E/G ratio of 2.51 and a beta of 0.73.

Waste Management (NYSE:WM – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The business services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Waste Management had a net margin of 11.36% and a return on equity of 32.91%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts expect that Waste Management, Inc. will post 6 EPS for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 10th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.71%. This is a boost from Waste Management’s previous quarterly dividend of $0.65. Waste Management’s dividend payout ratio (DPR) is presently 51.95%.

Insider Activity

In other Waste Management news, CAO Leslie K. Nagy sold 800 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $151.11, for a total transaction of $120,888.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,210 shares in the company, valued at $787,283.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Waste Management news, Director John C. Pope sold 218 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $154.76, for a total transaction of $33,737.68. Following the completion of the transaction, the director now owns 55,809 shares in the company, valued at approximately $8,637,000.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Leslie K. Nagy sold 800 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $151.11, for a total value of $120,888.00. Following the sale, the chief accounting officer now owns 5,210 shares in the company, valued at approximately $787,283.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,961 shares of company stock worth $4,796,057. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on WM shares. StockNews.com started coverage on shares of Waste Management in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and dropped their target price for the company from $185.00 to $171.00 in a report on Monday, December 19th. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $190.00 to $165.00 in a report on Tuesday, January 10th. Morgan Stanley raised their price objective on Waste Management from $179.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, BMO Capital Markets boosted their target price on Waste Management from $158.00 to $167.00 in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Hold” and a consensus price target of $173.27.

Waste Management Company Profile

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Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: East Tier, West Tier, and Other. The East Tier segment consists of Eastern U.S., the Great Lakes Region, and Canada. The West Tier segment includes the upper Midwest region and British Columbia, Canada.