Pitcairn Co. Sells 464 Shares of Waste Management, Inc. (NYSE:WM)

Pitcairn Co. cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,673 shares of the business services provider’s stock after selling 464 shares during the period. Pitcairn Co.’s holdings in Waste Management were worth $555,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Activest Wealth Management increased its stake in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter worth about $31,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management during the second quarter valued at approximately $36,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Waste Management in the second quarter valued at approximately $39,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $225.65 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $226.96. The business has a 50 day simple moving average of $213.19 and a 200 day simple moving average of $210.21. The stock has a market cap of $90.57 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.36 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $1.63 earnings per share. Analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Buying and Selling

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Argus increased their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Morgan Stanley upped their target price on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Royal Bank of Canada raised their price objective on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $226.11.

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.