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

by · The Markets Daily

Sanibel Captiva Trust Company Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,104 shares of the business services provider’s stock after purchasing an additional 160 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Waste Management were worth $852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WM. Wellington Management Group LLP lifted its holdings in shares of Waste Management by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock valued at $55,990,000 after purchasing an additional 48,549 shares during the last quarter. Pinkerton Retirement Specialists LLC increased its position in Waste Management by 18.6% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after purchasing an additional 3,145 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Waste Management by 8.8% in the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock worth $161,000 after acquiring an additional 61 shares during the period. Alaska Permanent Fund Corp grew its holdings in shares of Waste Management by 240.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 24,383 shares of the business services provider’s stock worth $5,197,000 after acquiring an additional 17,225 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of Waste Management in the 1st quarter worth approximately $7,146,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

Shares of NYSE:WM opened at $211.25 on Friday. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00. The stock has a market cap of $84.78 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.37 and a beta of 0.74. The stock’s 50 day moving average price is $207.18 and its 200 day moving average price is $208.46. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM – Get Free Report) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is 47.69%.

Analyst Ratings Changes

A number of brokerages have weighed in on WM. Oppenheimer reduced their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Robert W. Baird decreased their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Royal Bank of Canada decreased their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.89.

View Our Latest Research Report on Waste Management

Waste Management Company Profile

(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.

Further Reading

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