Sanibel Captiva Trust Company Inc. Has $1.08 Million Stake in Waste Management, Inc. (NYSE:WM)

Sanibel Captiva Trust Company Inc. lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,341 shares of the business services provider’s stock after buying an additional 1,237 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Waste Management were worth $1,078,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WM. Geode Capital Management LLC grew its stake in shares of Waste Management by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after acquiring an additional 168,818 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after purchasing an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. grew its position in Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Nordea Investment Management AB increased its stake in Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after buying an additional 280,455 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after buying an additional 243,900 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

WM has been the topic of a number of recent research reports. Argus lifted their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Ten investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

Waste Management Price Performance

NYSE:WM opened at $211.79 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The firm has a market cap of $85.01 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.10 and a beta of 0.77. Waste Management, Inc. has a 52 week low of $181.56 and a 52 week high of $230.39. The firm’s 50-day simple moving average is $213.80 and its 200 day simple moving average is $211.24.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is currently 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.