Hemenway Trust Co LLC Lowers Stock Holdings in Waste Management, Inc. (NYSE:WM)

Hemenway Trust Co LLC reduced its position in Waste Management, Inc. (NYSE:WM) by 7.2% in the first quarter, Holdings Channel.com reports. The fund owned 57,866 shares of the business services provider’s stock after selling 4,500 shares during the period. Hemenway Trust Co LLC’s holdings in Waste Management were worth $12,334,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its position in shares of Waste Management by 10.5% during the 3rd quarter. Harbour Investments Inc. now owns 1,982 shares of the business services provider’s stock valued at $302,000 after acquiring an additional 188 shares during the period. Creative Planning lifted its stake in Waste Management by 17.1% in the 3rd quarter. Creative Planning now owns 148,770 shares of the business services provider’s stock worth $22,679,000 after purchasing an additional 21,672 shares in the last quarter. Tompkins Financial Corp raised its position in shares of Waste Management by 13.0% during the 3rd quarter. Tompkins Financial Corp now owns 56,801 shares of the business services provider’s stock valued at $8,659,000 after buying an additional 6,515 shares in the last quarter. Brown Shipley& Co Ltd raised its position in shares of Waste Management by 9.5% during the 3rd quarter. Brown Shipley& Co Ltd now owns 19,336 shares of the business services provider’s stock valued at $2,948,000 after buying an additional 1,683 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Waste Management by 92.4% during the 3rd quarter. Comerica Bank now owns 110,099 shares of the business services provider’s stock valued at $16,784,000 after buying an additional 52,882 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of WM stock traded up $0.60 on Thursday, reaching $211.78. 1,161,347 shares of the company were exchanged, compared to its average volume of 1,707,479. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54. The company has a market cap of $84.94 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 2.45 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The business has a 50-day moving average price of $208.25 and a 200 day moving average price of $201.79.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the company earned $1.31 EPS. Waste Management’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.42%. Waste Management’s dividend payout ratio is presently 49.10%.

Analysts Set New Price Targets

Several equities analysts recently commented on WM shares. Morgan Stanley upped their price target on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Raymond James increased their target price on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Truist Financial decreased their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Finally, Robert W. Baird lifted their price objective on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.33.

Insider Activity at Waste Management

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 transaction, the vice president now directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.