Waste Management, Inc. (NYSE:WM) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lowered its position in Waste Management, Inc. (NYSE:WM) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,379 shares of the business services provider’s stock after selling 50 shares during the period. Mechanics Bank Trust Department’s holdings in Waste Management were worth $2,362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC grew its holdings in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter worth $35,000. Fairway Wealth LLC lifted its stake in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Finally, Fairscale Capital LLC purchased a new position in shares of Waste Management during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada reduced their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. CIBC cut their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Scotiabank assumed coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Finally, The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Stock Up 0.3 %

NYSE:WM opened at $211.81 on Friday. The company has a market capitalization of $85.00 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. Waste Management, Inc. has a one year low of $153.95 and a one year high of $225.00. The stock has a 50-day simple moving average of $207.37 and a 200 day simple moving average of $208.45. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. Waste Management’s payout ratio is currently 47.69%.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, 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 is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Waste Management 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.