Waste Management, Inc. (NYSE:WM) CEO Sells $10,143,434.15 in Stock

Waste Management, Inc. (NYSE:WM) CEO James C. Fish, Jr. sold 44,405 shares of the company’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 completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which is accessible through the SEC website.

Waste Management Stock Performance

Shares of Waste Management stock opened at $228.64 on Thursday. The firm has a market capitalization of $91.94 billion, a P/E ratio of 33.62, a PEG ratio of 2.71 and a beta of 0.78. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The company has a 50 day moving average price of $214.69 and a 200 day moving average price of $213.58. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $232.44.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.825 dividend. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, March 14th. Waste Management’s dividend payout ratio (DPR) is presently 48.53%.

Hedge Funds Weigh In On Waste Management

Several hedge funds and other institutional investors have recently bought and sold shares of WM. Activest Wealth Management increased its holdings in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates increased its holdings in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares during the period. Transce3nd LLC acquired a new position in Waste Management in the 4th quarter worth approximately $28,000. General Partner Inc. acquired a new position in Waste Management in the 4th quarter worth approximately $29,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Truist Financial increased their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank increased their target price on shares of Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Citigroup increased their target price on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus increased their target price on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.94.

About Waste Management

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.