First National Bank of Mount Dora Trust Investment Services Sells 3,781 Shares of Waste Management, Inc. (NYSE:WM)

First National Bank of Mount Dora Trust Investment Services reduced its stake in Waste Management, Inc. (NYSE:WM) by 15.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 21,295 shares of the business services provider’s stock after selling 3,781 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Waste Management were worth $4,539,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WM. Rafferty Asset Management LLC raised its stake in Waste Management by 9.5% in the third quarter. Rafferty Asset Management LLC now owns 29,315 shares of the business services provider’s stock worth $4,469,000 after buying an additional 2,540 shares in the last quarter. Glenview Trust co increased its stake in shares of Waste Management by 3.7% during the third quarter. Glenview Trust co now owns 2,409 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 85 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Waste Management by 636.1% during the third quarter. Acadian Asset Management LLC now owns 16,120 shares of the business services provider’s stock valued at $2,455,000 after purchasing an additional 13,930 shares in the last quarter. Dark Forest Capital Management LP increased its stake in shares of Waste Management by 21.2% during the third quarter. Dark Forest Capital Management LP now owns 10,831 shares of the business services provider’s stock valued at $1,651,000 after purchasing an additional 1,898 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Waste Management by 3.5% during the third quarter. LPL Financial LLC now owns 643,742 shares of the business services provider’s stock valued at $98,132,000 after purchasing an additional 21,831 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

WM has been the subject of a number of analyst reports. Oppenheimer raised their target price on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. CIBC raised their target price on shares of Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Raymond James increased their price target on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $217.61.

Waste Management Price Performance

Shares of WM stock traded down $0.18 on Friday, hitting $208.59. 558,249 shares of the stock traded hands, compared to its average volume of 1,707,848. The firm has a market cap of $83.66 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.42 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54. The firm has a 50 day simple moving average of $207.30 and a two-hundred day simple moving average of $198.08. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm posted $1.31 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Company Profile

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.