Truist Financial Corp cut its position in Waste Management, Inc. (NYSE:WM - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,777 shares of the business services provider's stock after selling 2,415 shares during the period. Truist Financial Corp's holdings in Waste Management were worth $31,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Geode Capital Management LLC raised its holdings in shares of Waste Management by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider's stock valued at $1,686,203,000 after buying an additional 168,818 shares during the period. Parnassus Investments LLC raised its holdings in shares of Waste Management by 11.3% in the 3rd 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 period. Nordea Investment Management AB raised its holdings in shares of Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider's stock valued at $854,446,000 after buying an additional 280,455 shares during the period. International Assets Investment Management LLC raised its holdings 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 buying an additional 2,588,842 shares during the period. Finally, Barclays PLC raised its holdings in shares of Waste Management by 12.8% in the 3rd quarter. Barclays PLC now owns 2,433,408 shares of the business services provider's stock valued at $505,175,000 after buying an additional 276,287 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.
Insider Buying and Selling at Waste Management
In other news, SVP Rafael Carrasco sold 4,000 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the sale, the senior vice president now owns 18,531 shares of the company's stock, valued at $4,185,967.59. This represents a 17.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tara J. Hemmer sold 4,576 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,016,421.12. Following the completion of the transaction, the senior vice president now owns 58,765 shares in the company, valued at approximately $13,052,881.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,055 shares of company stock valued at $3,578,340. Company insiders own 0.18% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on WM shares. StockNews.com lowered Waste Management from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Raymond James increased their price target on Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Citigroup increased their price target on Waste Management from $242.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada raised their target price on Waste Management from $204.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. Nine 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.94.
Check Out Our Latest Stock Report on WM
Waste Management Price Performance
Shares of NYSE WM traded down $1.24 during trading on Friday, reaching $227.89. The company had a trading volume of 1,709,065 shares, compared to its average volume of 1,665,810. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $230.39. The stock has a market capitalization of $91.47 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78. The stock has a 50-day moving average price of $213.14 and a two-hundred day moving average price of $212.81. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.
Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Waste Management's previous quarterly dividend of $0.75. Waste Management's payout ratio is 44.12%.
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.
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