Corebridge Financial Inc. Sells 1,901 Shares of Waste Management, Inc. (NYSE:WM)

Corebridge Financial Inc. decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,431 shares of the business services provider’s stock after selling 1,901 shares during the quarter. Corebridge Financial Inc.’s holdings in Waste Management were worth $21,679,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Waste Management by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider’s stock worth $7,526,823,000 after purchasing an additional 538,567 shares during the period. Geode Capital Management LLC boosted its stake in shares of Waste Management by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after acquiring an additional 168,818 shares during the period. Parnassus Investments LLC raised its stake in Waste Management by 22.5% in the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock valued at $1,265,629,000 after acquiring an additional 1,151,237 shares during the period. Nordea Investment Management AB lifted its holdings in Waste Management by 7.1% during the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares during the last quarter. Finally, Amundi boosted its position in Waste Management by 0.7% during the fourth quarter. Amundi now owns 3,897,959 shares of the business services provider’s stock worth $803,819,000 after purchasing an additional 25,801 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WM shares. Oppenheimer raised their target price on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Jefferies Financial Group reduced their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. Raymond James boosted their price target on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, CIBC increased their price objective on Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $236.65.

Insider Activity at Waste Management

In other news, CEO James C. Fish, Jr. sold 44,405 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $228.43, for a total transaction of $10,143,434.15. Following the sale, the chief executive officer now directly owns 211,061 shares in the company, valued at approximately $48,212,664.23. The trade was a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Johnson Varkey sold 124 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total transaction of $29,135.04. Following the completion of the transaction, the senior vice president now owns 8,491 shares of the company’s stock, valued at approximately $1,995,045.36. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,577 shares of company stock valued at $21,662,464 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of WM stock opened at $226.17 on Tuesday. The business has a fifty day simple moving average of $223.07 and a 200 day simple moving average of $216.03. The company has a market cap of $90.95 billion, a P/E ratio of 33.26, a P/E/G ratio of 2.71 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $235.81.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. Waste Management’s dividend payout ratio is presently 48.53%.

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.