Waste Management, Inc. (NYSE:WM) Holdings Reduced by TCTC Holdings LLC

TCTC Holdings LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 456,816 shares of the business services provider’s stock after selling 919 shares during the quarter. Waste Management accounts for approximately 3.2% of TCTC Holdings LLC’s investment portfolio, making the stock its 4th biggest position. TCTC Holdings LLC’s holdings in Waste Management were worth $94,835,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WM. Westchester Capital Management Inc. raised its holdings in Waste Management by 0.6% during the third quarter. Westchester Capital Management Inc. now owns 90,602 shares of the business services provider’s stock valued at $18,809,000 after acquiring an additional 555 shares during the period. Assetmark Inc. raised its stake in shares of Waste Management by 10.1% during the third quarter. Assetmark Inc. now owns 2,077 shares of the business services provider’s stock valued at $431,000 after acquiring an additional 191 shares in the last quarter. Townsend & Associates Inc raised its stake in shares of Waste Management by 2.6% during the third quarter. Townsend & Associates Inc now owns 89,064 shares of the business services provider’s stock valued at $18,864,000 after acquiring an additional 2,230 shares in the last quarter. Beta Wealth Group Inc. increased its position in shares of Waste Management by 10.8% during the third quarter. Beta Wealth Group Inc. now owns 15,767 shares of the business services provider’s stock worth $3,273,000 after purchasing an additional 1,542 shares in the last quarter. Finally, Windward Capital Management Co. CA increased its position in shares of Waste Management by 0.4% during the third quarter. Windward Capital Management Co. CA now owns 30,637 shares of the business services provider’s stock worth $6,360,000 after purchasing an additional 125 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WM has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. CIBC upped their price target on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price target on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Waste Management Price Performance

WM opened at $224.08 on Friday. The company has a fifty day simple moving average of $210.21 and a 200 day simple moving average of $209.26. The firm has a market cap of $89.94 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.31 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.36. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data 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. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts expect that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.