Waste Management, Inc. (NYSE:WM) Shares Sold by Coastline Trust Co

Coastline Trust Co reduced its holdings in Waste Management, Inc. (NYSE:WMFree Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,946 shares of the business services provider’s stock after selling 220 shares during the quarter. Coastline Trust Co’s holdings in Waste Management were worth $3,751,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its position in shares of Waste Management by 110,208.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,778,550 shares of the business services provider’s stock valued at $749,659,000 after purchasing an additional 4,774,218 shares during the period. Norges Bank acquired a new position in shares of Waste Management during the 4th quarter valued at $658,370,000. Goldman Sachs Group Inc. increased its position in shares of Waste Management by 153.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,694,489 shares of the business services provider’s stock valued at $640,698,000 after purchasing an additional 2,236,280 shares during the period. Morgan Stanley increased its position in shares of Waste Management by 30.4% during the 4th quarter. Morgan Stanley now owns 7,370,481 shares of the business services provider’s stock valued at $1,156,281,000 after purchasing an additional 1,718,449 shares during the period. Finally, Imprint Wealth LLC increased its position in shares of Waste Management by 17,627.7% during the 2nd quarter. Imprint Wealth LLC now owns 1,401,200 shares of the business services provider’s stock valued at $140,120,000 after purchasing an additional 1,393,296 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 0.9 %

Shares of NYSE:WM traded down $1.81 during midday trading on Tuesday, hitting $211.10. 1,543,755 shares of the stock were exchanged, compared to its average volume of 1,661,295. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.86 and a current ratio of 0.90. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The business’s fifty day simple moving average is $201.78 and its two-hundred day simple moving average is $180.40. The company has a market capitalization of $84.78 billion, a PE ratio of 37.30, a P/E/G ratio of 3.24 and a beta of 0.72.

Waste Management (NYSE:WMGet Free Report) last announced its quarterly earnings data on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.21. Waste Management had a return on equity of 36.51% and a net margin of 11.28%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $1.30 earnings per share. As a group, research analysts predict that Waste Management, Inc. will post 6.88 earnings per share for the current fiscal 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 issued a dividend of $0.75 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, March 14th. Waste Management’s dividend payout ratio (DPR) is 53.00%.

Wall Street Analysts Forecast Growth

WM has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. HSBC lowered Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price objective for the company. in a research note on Thursday, February 15th. Jefferies Financial Group raised their price objective on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Truist Financial raised their price objective on Waste Management from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $190.00 to $205.00 in a research note on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $201.57.

Read Our Latest Research Report on WM

Insider Buying and Selling at Waste Management

In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the transaction, the executive vice president now directly owns 29,677 shares in the company, valued at $6,217,331.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO James C. Fish, Jr. sold 9,550 shares of Waste Management stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $182.00, for a total value of $1,738,100.00. Following the transaction, the chief executive officer now directly owns 152,838 shares in the company, valued at $27,816,516. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the transaction, the executive vice president now owns 29,677 shares in the company, valued at $6,217,331.50. The disclosure for this sale can be found here. Insiders have sold a total of 30,242 shares of company stock worth $5,929,355 over the last three months. Corporate insiders own 0.27% of the company’s stock.

About Waste Management

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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