CENTRAL TRUST Co cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,037 shares of the business services provider’s stock after selling 2,021 shares during the quarter. CENTRAL TRUST Co’s holdings in Waste Management were worth $2,186,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of WM. Daiwa Securities Group Inc. lifted its position in Waste Management by 0.8% in the first quarter. Daiwa Securities Group Inc. now owns 26,776 shares of the business services provider’s stock worth $2,783,000 after purchasing an additional 217 shares during the period. World Asset Management Inc lifted its position in Waste Management by 6.8% in the first quarter. World Asset Management Inc now owns 29,021 shares of the business services provider’s stock worth $3,016,000 after purchasing an additional 1,859 shares during the period. Inlet Private Wealth LLC lifted its position in Waste Management by 34.0% in the first quarter. Inlet Private Wealth LLC now owns 44,436 shares of the business services provider’s stock worth $4,617,000 after purchasing an additional 11,265 shares during the period. Enterprise Financial Services Corp lifted its position in Waste Management by 38.8% in the first quarter. Enterprise Financial Services Corp now owns 1,074 shares of the business services provider’s stock worth $111,000 after purchasing an additional 300 shares during the period. Finally, Great Valley Advisor Group Inc. acquired a new stake in Waste Management in the first quarter worth approximately $780,000. 75.84% of the stock is owned by institutional investors.
Shares of WM traded up $0.14 during mid-day trading on Wednesday, reaching $109.43. The company’s stock had a trading volume of 1,407,388 shares, compared to its average volume of 1,733,461. The firm has a market capitalization of $45.75 billion, a P/E ratio of 26.05, a PEG ratio of 2.93 and a beta of 0.67. Waste Management, Inc. has a 1 year low of $79.96 and a 1 year high of $109.66. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the business posted $0.91 earnings per share. Waste Management’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts expect that Waste Management, Inc. will post 4.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
A number of research firms have weighed in on WM. Royal Bank of Canada began coverage on Waste Management in a research report on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 target price for the company. Oppenheimer upped their target price on Waste Management from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Argus upped their target price on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a research report on Monday, April 15th. Finally, UBS Group downgraded Waste Management from a “buy” rating to a “neutral” rating and increased their price objective for the company from $103.00 to $106.00 in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $105.22.
In other Waste Management news, VP Michael J. Watson sold 700 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total transaction of $73,185.00. Following the transaction, the vice president now directly owns 9,518 shares of the company’s stock, valued at $995,106.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John J. Morris sold 42,795 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the transaction, the executive vice president now directly owns 101,332 shares in the company, valued at $10,779,698.16. The disclosure for this sale can be found here. Insiders sold 43,811 shares of company stock worth $4,657,346 over the last ninety days. 0.14% of the stock is currently owned by company insiders.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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