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

Corebridge Financial Inc. cut its position in shares of Waste Management, Inc. (NYSE:WM) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.

A number of other hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates lifted its stake in Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. General Partner Inc. bought a new position in Waste Management during the fourth quarter worth $29,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Waste Management in the fourth quarter worth $33,000. Sugar Maple Asset Management LLC bought a new stake in Waste Management in the fourth quarter valued at $35,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Waste Management during the fourth quarter valued at about $35,000. Institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In related news, SVP Johnson Varkey sold 560 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now directly owns 9,152 shares in the company, valued at approximately $2,014,446.72. The trade was a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald J. Smith sold 191 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the completion of the transaction, the vice president now owns 6,129 shares of the company’s stock, valued at $1,349,728.38. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,577 shares of company stock worth $21,662,464. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WM. Oppenheimer boosted their target price on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. StockNews.com downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. CIBC lifted their price target on shares of Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. William Blair restated an “outperform” rating on shares of Waste Management in a report on Friday, January 31st. Finally, Stifel Nicolaus lifted their price objective on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $236.65.

Waste Management Stock Up 0.6 %

WM stock opened at $226.17 on Tuesday. The stock 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 current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The stock’s fifty day simple moving average is $223.07 and its two-hundred day simple moving average is $216.03. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $235.81.

Waste Management (NYSE:WM) last issued 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 return on equity of 37.93% and a net margin of 12.45%. Analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business 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 dividend of $0.825 per share. The ex-dividend date is Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio (DPR) 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.