M&T Bank Corp Decreases Position in Waste Management, Inc. (NYSE:WM)

M&T Bank Corp lowered its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 211,526 shares of the business services provider's stock after selling 3,604 shares during the period. M&T Bank Corp owned approximately 0.05% of Waste Management worth $43,913,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WM. International Assets Investment Management LLC lifted its stake in Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider's stock worth $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider's stock valued at $185,196,000 after buying an additional 863,846 shares in the last quarter. Swedbank AB grew its position in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider's stock valued at $366,537,000 after acquiring an additional 709,678 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Waste Management by 248.5% during the second quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider's stock worth $210,092,000 after acquiring an additional 702,188 shares in the last quarter. Finally, Parnassus Investments LLC lifted its holdings in shares of Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider's stock worth $1,063,072,000 after acquiring an additional 520,096 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Buying and Selling

In other news, Director Maryrose Sylvester sold 310 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on WM. UBS Group upped their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Stifel Nicolaus increased their price target on Waste Management from $243.00 to $252.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on Waste Management from $213.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on Waste Management from $204.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.72.

Waste Management Stock Up 0.1 %

WM traded up $0.30 during midday trading on Friday, hitting $205.83. The company had a trading volume of 3,679,965 shares, compared to its average volume of 1,632,453. The company has a market capitalization of $82.61 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 2.36 and a beta of 0.75. The stock's 50 day moving average price is $217.42 and its 200 day moving average price is $211.46. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 52 week low of $175.62 and a 52 week high of $230.39.

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

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors 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 1.46%. Waste Management's payout ratio is 45.87%.

About Waste Management

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.