Waste Management, Inc. (NYSE:WM) Position Cut by Jensen Investment Management Inc.

Jensen Investment Management Inc. trimmed its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 14.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,274,581 shares of the business services provider's stock after selling 206,784 shares during the quarter. Waste Management makes up about 3.3% of Jensen Investment Management Inc.'s investment portfolio, making the stock its 14th largest holding. Jensen Investment Management Inc. owned about 0.32% of Waste Management worth $295,078,000 at the end of the most recent reporting period.

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A number of other hedge funds and other institutional investors have also modified their holdings of WM. Brighton Jones LLC raised its stake in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Waste Management by 14.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after acquiring an additional 15,974 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Waste Management by 3.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 704,816 shares of the business services provider's stock valued at $142,225,000 after acquiring an additional 24,323 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Waste Management by 11.8% in the 4th quarter. Federated Hermes Inc. now owns 70,488 shares of the business services provider's stock valued at $14,224,000 after acquiring an additional 7,453 shares during the last quarter. Finally, Trek Financial LLC lifted its holdings in Waste Management by 6.0% in the 4th quarter. Trek Financial LLC now owns 1,259 shares of the business services provider's stock valued at $254,000 after acquiring an additional 71 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Down 0.3%

Shares of Waste Management stock opened at $229.83 on Wednesday. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $92.58 billion, a P/E ratio of 34.10, a PEG ratio of 2.83 and a beta of 0.64. The stock has a 50 day moving average price of $231.20 and a two-hundred day moving average price of $228.52.

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Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the prior year, the business earned $1.82 earnings per share. Waste Management's revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's dividend payout ratio is currently 48.96%.

Insider Activity at Waste Management

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In related news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on WM. Hsbc Global Res raised shares of Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. National Bank Financial upgraded Waste Management to a "hold" rating in a report on Monday, May 26th. Seaport Res Ptn upgraded Waste Management to a "hold" rating in a report on Tuesday, May 6th. Robert W. Baird boosted their price objective on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Finally, HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

View Our Latest Analysis on Waste Management

Waste Management Company 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.

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