Peapack Gladstone Financial Corp Reduces Stock Holdings in Waste Management, Inc. (NYSE:WM)

Peapack Gladstone Financial Corp decreased its position in Waste Management, Inc. (NYSE:WM) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,476 shares of the business services provider’s stock after selling 1,474 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Waste Management were worth $33,730,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB raised its holdings in Waste Management by 491.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 11,435 shares of the business services provider’s stock worth $2,374,000 after purchasing an additional 9,502 shares in the last quarter. Arvest Bank Trust Division bought a new position in shares of Waste Management during the third quarter valued at $562,000. World Investment Advisors LLC increased its holdings in shares of Waste Management by 245.6% during the third quarter. World Investment Advisors LLC now owns 9,413 shares of the business services provider’s stock valued at $1,954,000 after acquiring an additional 6,689 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Waste Management by 5.5% during the third quarter. Sanctuary Advisors LLC now owns 79,439 shares of the business services provider’s stock valued at $17,827,000 after acquiring an additional 4,155 shares in the last quarter. Finally, Aldebaran Financial Inc. increased its holdings in shares of Waste Management by 4.6% during the third quarter. Aldebaran Financial Inc. now owns 11,210 shares of the business services provider’s stock valued at $2,327,000 after acquiring an additional 489 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.0 %

WM stock opened at $214.47 on Friday. Waste Management, Inc. has a twelve month low of $173.01 and a twelve month high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock has a market cap of $86.08 billion, a P/E ratio of 32.79, a PEG ratio of 2.26 and a beta of 0.75. The business’s 50-day moving average price is $217.55 and its 200-day moving average price is $211.37.

Waste Management (NYSE:WM) last posted its quarterly earnings data 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. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the firm earned $1.63 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Activity at Waste Management

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday. CIBC lifted their price objective on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Argus lifted their price objective on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.72.

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.