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

Rockland Trust Co. cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,661 shares of the business services provider’s stock after selling 200 shares during the period. Rockland Trust Co.’s holdings in Waste Management were worth $335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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 worth $26,000 after buying an additional 120 shares during the last quarter. Global Wealth Strategies & Associates increased its position in shares of Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. General Partner Inc. acquired a new stake in shares of Waste Management in the 4th quarter valued at about $29,000. Strategic Investment Solutions Inc. IL acquired a new position in Waste Management in the second quarter worth about $36,000. Finally, Fairscale Capital LLC bought a new stake in Waste Management in the second quarter valued at about $39,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on WM. Morgan Stanley lifted their target price on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank initiated coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. Finally, William Blair began coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Waste Management Trading Up 0.5 %

Waste Management stock opened at $208.16 on Thursday. Waste Management, Inc. has a 12-month low of $180.17 and a 12-month high of $230.39. The stock has a market capitalization of $83.55 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The firm has a 50 day simple moving average of $214.44 and a 200-day simple moving average of $211.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

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.