Johnson Investment Counsel Inc. Cuts Position in Waste Management, Inc. (NYSE:WM)

Johnson Investment Counsel Inc. trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 1.3% during the 2nd quarter, Holdings Channel reports. The fund owned 551,538 shares of the business services provider’s stock after selling 7,046 shares during the period. Waste Management makes up approximately 1.2% of Johnson Investment Counsel Inc.’s investment portfolio, making the stock its 14th biggest position. Johnson Investment Counsel Inc.’s holdings in Waste Management were worth $117,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC raised its stake in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Sachetta LLC bought a new stake in shares of Waste Management in the 4th quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management in the first quarter worth about $35,000. Finally, DSM Capital Partners LLC bought a new stake in Waste Management during the fourth quarter worth approximately $38,000. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective for the company. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. CIBC cut their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Truist Financial decreased their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Stock Performance

Shares of WM stock opened at $207.61 on Thursday. The firm has a market cap of $83.27 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company’s 50 day moving average is $209.33 and its 200 day moving average is $208.76.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.51 earnings per share. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.45%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

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.