Pennsylvania Trust Co lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 31.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,602 shares of the business services provider’s stock after selling 34,278 shares during the period. Pennsylvania Trust Co’s holdings in Waste Management were worth $7,832,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of WM. We Are One Seven LLC bought a new position in shares of Waste Management in the 4th quarter worth $26,000. Larson Financial Group LLC bought a new position in shares of Waste Management in the 4th quarter worth $26,000. Executive Wealth Management LLC bought a new position in shares of Waste Management in the 4th quarter worth $26,000. Altshuler Shaham Ltd bought a new position in shares of Waste Management in the 4th quarter worth $27,000. Finally, Washington Trust Bank bought a new position in shares of Waste Management in the 1st quarter worth $28,000. 75.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of WM opened at $104.44 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.53. Waste Management, Inc. has a fifty-two week low of $79.96 and a fifty-two week high of $105.68. The firm has a market capitalization of $44.28 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.75 and a beta of 0.67.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate that Waste Management, Inc. will post 4.35 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.96%. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, March 7th. Waste Management’s dividend payout ratio is presently 48.81%.
A number of brokerages have recently issued reports on WM. UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and upped their price objective for the company from $103.00 to $106.00 in a research note on Thursday, April 4th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Monday. Oppenheimer raised their target price on shares of Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. KeyCorp started coverage on shares of Waste Management in a research note on Monday, February 4th. They issued an “overweight” rating and a $96.00 price target for the company. Finally, Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $101.71.
In other news, Director Patrick W. Gross sold 365 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total transaction of $33,955.95. Following the sale, the director now owns 53,058 shares of the company’s stock, valued at approximately $4,935,985.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tara J. Hmmer sold 472 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.81, for a total transaction of $46,638.32. Following the sale, the senior vice president now directly owns 17,208 shares in the company, valued at approximately $1,700,322.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,092 shares of company stock valued at $402,648. Insiders own 0.14% of the company’s stock.
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Waste Management 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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