SouthState Corp Sells 123 Shares of Waste Management, Inc. (NYSE:WM)

SouthState Corp lessened its stake in Waste Management, Inc. (NYSE:WM) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,372 shares of the business services provider’s stock after selling 123 shares during the period. SouthState Corp’s holdings in Waste Management were worth $962,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gilfoyle & Co LLC purchased a new stake in Waste Management during the fourth quarter valued at about $30,000. Millburn Ridgefield Corp purchased a new position in shares of Waste Management during the 3rd quarter valued at about $35,000. Rational Advisors LLC bought a new stake in Waste Management in the 3rd quarter worth approximately $41,000. Janiczek Wealth Management LLC boosted its stake in Waste Management by 127.3% in the fourth quarter. Janiczek Wealth Management LLC now owns 300 shares of the business services provider’s stock worth $54,000 after buying an additional 168 shares in the last quarter. Finally, Annapolis Financial Services LLC grew its position in Waste Management by 40.1% during the third quarter. Annapolis Financial Services LLC now owns 325 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other Waste Management news, VP Donald J. Smith sold 329 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total value of $65,326.24. Following the transaction, the vice president now owns 5,522 shares of the company’s stock, valued at $1,096,448.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Devina A. Rankin sold 775 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the sale, the chief financial officer now directly owns 75,204 shares in the company, valued at approximately $14,934,010.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald J. Smith sold 329 shares of Waste Management stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the transaction, the vice president now owns 5,522 shares in the company, valued at $1,096,448.32. The disclosure for this sale can be found here. Insiders sold 18,007 shares of company stock valued at $3,696,520 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Up 0.3 %

NYSE WM traded up $0.72 during mid-day trading on Friday, reaching $207.88. The stock had a trading volume of 2,219,746 shares, compared to its average volume of 1,683,213. The stock has a market cap of $83.38 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.70 and a beta of 0.72. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54. The company has a fifty day moving average price of $208.93 and a 200 day moving average price of $188.30.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. Waste Management’s revenue was up 5.5% on a year-over-year basis. On average, research analysts expect that Waste Management, Inc. will post 7.26 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s payout ratio is currently 49.10%.

Wall Street Analyst Weigh In

WM has been the subject of a number of recent research reports. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and boosted their target price for the company from $190.00 to $205.00 in a research note on Wednesday, February 14th. Stifel Nicolaus upped their price target on shares of Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a report on Friday, April 26th. Morgan Stanley boosted their price objective on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. BMO Capital Markets boosted their price target on Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Robert W. Baird boosted their target price on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.24.

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.