Waste Management, Inc. (NYSE:WM) Position Reduced by SlateStone Wealth LLC

SlateStone Wealth LLC trimmed its stake in shares of Waste Management, Inc. (NYSE:WM) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,186 shares of the business services provider’s stock after selling 727 shares during the quarter. SlateStone Wealth LLC’s holdings in Waste Management were worth $392,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in shares of Waste Management by 0.7% in the 3rd quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock worth $1,061,521,000 after acquiring an additional 46,084 shares during the period. Nordea Investment Management AB increased its holdings in shares of Waste Management by 16.9% in the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after acquiring an additional 776,491 shares during the period. Ameriprise Financial Inc. grew its position in Waste Management by 1.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock valued at $794,174,000 after buying an additional 66,816 shares in the last quarter. Northern Trust Corp grew its position in Waste Management by 2.3% in the 3rd quarter. Northern Trust Corp now owns 4,065,843 shares of the business services provider’s stock valued at $619,797,000 after buying an additional 90,129 shares in the last quarter. Finally, Stifel Financial Corp grew its position in Waste Management by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 2,446,103 shares of the business services provider’s stock valued at $372,886,000 after buying an additional 9,001 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 0.6 %

Shares of WM traded up $1.32 on Tuesday, hitting $208.85. The company’s stock had a trading volume of 831,015 shares, compared to its average volume of 1,653,101. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $214.54. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 2.30. The firm’s fifty day moving average price is $207.69 and its 200-day moving average price is $185.78. The firm has a market capitalization of $83.81 billion, a price-to-earnings ratio of 36.77, a P/E/G ratio of 3.14 and a beta of 0.72.

Waste Management (NYSE:WM) last issued its earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.21. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.19 billion. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. During the same period in the previous year, the company earned $1.30 earnings per share. On average, equities research analysts expect that Waste Management, Inc. will post 6.88 EPS for the current year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 14th. Waste Management’s dividend payout ratio (DPR) is presently 53.00%.

Insider Transactions at Waste Management

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada began coverage on shares of Waste Management in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer raised their price objective on shares of Waste Management from $188.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Finally, Truist Financial raised their price objective on shares of Waste Management from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.85.

Waste Management 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.