PNC Financial Services Group Inc. Lowers Stock Position in Waste Management, Inc. (NYSE:WM)

PNC Financial Services Group Inc. trimmed its position in Waste Management, Inc. (NYSE:WM - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 527,586 shares of the business services provider's stock after selling 14,101 shares during the period. PNC Financial Services Group Inc. owned about 0.13% of Waste Management worth $109,527,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Parnassus Investments LLC lifted its stake in 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 worth $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider's stock worth $969,401,000 after buying an additional 12,664 shares in the last quarter. Capital World Investors boosted its stake in Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider's stock worth $900,957,000 after buying an additional 1,303,466 shares during the last quarter. Legal & General Group Plc grew its holdings in Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider's stock valued at $820,539,000 after buying an additional 243,900 shares in the last quarter. Finally, International Assets Investment Management LLC increased 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 worth $538,013,000 after acquiring an additional 2,588,842 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management 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 transaction, the director now owns 3,875 shares of the company's stock, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Down 0.1 %

NYSE:WM traded down $0.27 during mid-day trading on Wednesday, hitting $218.78. The stock had a trading volume of 1,058,343 shares, compared to its average volume of 1,610,936. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84. The stock has a 50-day simple moving average of $212.24 and a two-hundred day simple moving average of $209.92. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $87.81 billion, a PE ratio of 33.45, a PEG ratio of 2.30 and a beta of 0.74.

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, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management's dividend payout ratio (DPR) is 45.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WM. Robert W. Baird dropped their price objective on shares of Waste Management from $226.00 to $216.00 and set a "neutral" rating for the company in a report on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a "strong-buy" rating in a report on Friday, July 26th. William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They issued an "outperform" rating on the stock. UBS Group raised their target price on Waste Management from $220.00 to $226.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered Waste Management from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 15th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $226.11.

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.