Adirondack Trust Co. Sells 185 Shares of Waste Management, Inc. (NYSE:WM)
Adirondack Trust Co. trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,398 shares of the business services provider’s stock after selling 185 shares during the quarter. Waste Management comprises about 1.0% of Adirondack Trust Co.’s investment portfolio, making the stock its 27th largest holding. Adirondack Trust Co.’s holdings in Waste Management were worth $1,426,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in Waste Management during the second quarter worth about $25,000. Financial Gravity Wealth Inc. grew its stake in Waste Management by 133.1% during the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after buying an additional 161 shares in the last quarter. Personal Wealth Partners acquired a new stake in Waste Management during the second quarter worth about $35,000. Next Capital Management LLC grew its stake in Waste Management by 119.6% during the second quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock worth $37,000 after buying an additional 177 shares in the last quarter. Finally, Coastal Capital Group Inc. acquired a new stake in Waste Management during the second quarter worth about $39,000. 73.17% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Tara J. Hmmer sold 4,739 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $118.04, for a total value of $559,391.56. Following the sale, the senior vice president now directly owns 23,470 shares in the company, valued at approximately $2,770,398.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael J. Watson sold 8,019 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.40, for a total transaction of $957,468.60. Following the completion of the sale, the vice president now owns 17,254 shares in the company, valued at $2,060,127.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,636 shares of company stock worth $1,619,433. 0.14% of the stock is currently owned by corporate insiders.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company posted $1.01 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts expect that Waste Management, Inc. will post 4.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.512 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.77%. Waste Management’s payout ratio is currently 48.81%.
A number of brokerages have issued reports on WM. CIBC reiterated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Scotiabank began coverage on shares of Waste Management in a research note on Monday, July 22nd. They set an “outperform” rating on the stock. Macquarie reiterated an “outperform” rating and set a $130.00 price objective on shares of Waste Management in a research note on Wednesday, September 4th. JPMorgan Chase & Co. began coverage on shares of Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on shares of Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Waste Management has a consensus rating of “Buy” and an average price target of $116.82.
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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