Waste Management, Inc. (NYSE:WM) Shares Purchased by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,341 shares of the business services provider's stock after acquiring an additional 1,237 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Waste Management were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider's stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Swedbank AB raised its holdings in Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider's stock valued at $366,537,000 after buying an additional 709,678 shares during the period. Parnassus Investments LLC lifted its position in 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 valued at $1,063,072,000 after buying an additional 520,096 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Waste Management by 32.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider's stock valued at $374,062,000 after acquiring an additional 437,613 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Waste Management by 138.0% in the 3rd quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider's stock valued at $149,168,000 after acquiring an additional 416,579 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Up 0.4 %

Shares of NYSE:WM traded up $0.78 during trading on Friday, hitting $211.79. 1,663,684 shares of the company were exchanged, compared to its average volume of 1,458,420. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm's 50 day moving average price is $213.80 and its 200-day moving average price is $211.25. The stock has a market capitalization of $85.01 billion, a P/E ratio of 32.38, a PEG ratio of 2.10 and a beta of 0.77. Waste Management, Inc. has a 12-month low of $181.56 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Waste Management's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management's payout ratio is currently 45.87%.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred 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 approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WM. CIBC boosted their target price on Waste Management from $228.00 to $235.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Argus increased their target price on Waste Management from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an "outperform" rating on the stock. Truist Financial raised their price objective on shares of Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus increased their target price on shares of Waste Management from $243.00 to $252.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $230.72.

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.