Coastline Trust Co Raises Stock Position in Waste Management, Inc. (NYSE:WM)

Coastline Trust Co grew its holdings in Waste Management, Inc. (NYSE:WM) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 21,535 shares of the business services provider’s stock after acquiring an additional 478 shares during the period. Coastline Trust Co’s holdings in Waste Management were worth $4,471,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management during the second quarter valued at approximately $31,000. Fairway Wealth LLC boosted its position 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 valued at $36,000 after acquiring an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Waste Management in the second quarter worth $36,000. Fairscale Capital LLC purchased a new stake in Waste Management during the second quarter valued at $39,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction 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 directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WM shares. Scotiabank initiated coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. Robert W. Baird dropped their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Oppenheimer increased their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. William Blair began coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Truist Financial increased their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Stock Performance

WM stock opened at $217.89 on Friday. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.84. The business has a 50-day moving average price of $211.61 and a 200 day moving average price of $209.67. The company has a market capitalization of $87.45 billion, a P/E ratio of 33.32, a PEG ratio of 2.38 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. The firm 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 was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.38%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

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.