Waste Management, Inc. (NYSE:WM) Shares Sold by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on May 6th, 2023

Oppenheimer Asset Management Inc. decreased its holdings in Waste Management, Inc. (NYSE:WM – Get Rating) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,651 shares of the business services provider’s stock after selling 957 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Waste Management were worth $1,043,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. McClarren Financial Advisors Inc. purchased a new stake in shares of Waste Management in the 3rd quarter valued at approximately $25,000. TD Capital Management LLC purchased a new position in shares of Waste Management during the 3rd quarter worth approximately $33,000. Tortoise Investment Management LLC boosted its position in shares of Waste Management by 232.1% during the 3rd quarter. Tortoise Investment Management LLC now owns 269 shares of the business services provider’s stock worth $43,000 after purchasing an additional 188 shares during the period. HBC Financial Services PLLC purchased a new position in shares of Waste Management during the 4th quarter worth approximately $47,000. Finally, Worth Asset Management LLC purchased a new position in shares of Waste Management during the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors own 78.48% of the company’s stock.

Insider Activity

In related news, CFO Devina A. Rankin sold 200 shares of Waste Management stock in a transaction on Monday, February 13th. The shares were sold at an average price of $155.00, for a total transaction of $31,000.00. Following the sale, the chief financial officer now directly owns 64,317 shares in the company, valued at approximately $9,969,135. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP John J. Morris sold 15,204 shares of Waste Management stock in a transaction on Friday, February 17th. The shares were sold at an average price of $155.03, for a total transaction of $2,357,076.12. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $14,799,318.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 200 shares of Waste Management stock in a transaction on Monday, February 13th. The stock was sold at an average price of $155.00, for a total transaction of $31,000.00. Following the sale, the chief financial officer now owns 64,317 shares in the company, valued at $9,969,135. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,743 shares of company stock worth $4,762,320. 0.27% of the stock is currently owned by corporate insiders.

Waste Management Price Performance

Shares of WM opened at $168.43 on Friday. Waste Management, Inc. has a twelve month low of $138.89 and a twelve month high of $175.98. The firm’s fifty day simple moving average is $159.06 and its 200-day simple moving average is $158.32. The firm has a market capitalization of $68.52 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 2.75 and a beta of 0.72. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The business services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.02. Waste Management had a net margin of 11.33% and a return on equity of 33.23%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the business earned $1.29 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that Waste Management, Inc. will post 6.03 EPS for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Waste Management’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, March 9th. Waste Management’s dividend payout ratio (DPR) is presently 51.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and increased their price objective for the stock from $171.00 to $177.00 in a research report on Friday, April 28th. Truist Financial assumed coverage on shares of Waste Management in a research report on Monday, April 17th. They set a “buy” rating and a $190.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Waste Management from $157.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, February 6th. BMO Capital Markets increased their price objective on shares of Waste Management from $158.00 to $167.00 in a research report on Thursday, April 6th. Finally, 51job reiterated a “maintains” rating on shares of Waste Management in a report on Thursday, April 27th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $175.67.

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.