Waste Management, Inc. (NYSE:WM) Stock Position Lifted by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 81.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,093 shares of the business services provider’s stock after acquiring an additional 6,770 shares during the period. Independence Bank of Kentucky’s holdings in Waste Management were worth $3,046,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WM. Czech National Bank lifted its holdings in shares of Waste Management by 7.0% in the 3rd quarter. Czech National Bank now owns 74,394 shares of the business services provider’s stock worth $15,444,000 after purchasing an additional 4,842 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Waste Management by 155.6% during the third quarter. SG Americas Securities LLC now owns 120,237 shares of the business services provider’s stock valued at $24,961,000 after acquiring an additional 73,188 shares during the period. Farmers Trust Co. bought a new position in shares of Waste Management during the third quarter worth about $213,000. Park Avenue Securities LLC increased its holdings in shares of Waste Management by 4.6% in the 3rd quarter. Park Avenue Securities LLC now owns 4,842 shares of the business services provider’s stock worth $1,005,000 after acquiring an additional 213 shares during the period. Finally, Goelzer Investment Management Inc. boosted its stake in Waste Management by 9.9% during the 3rd quarter. Goelzer Investment Management Inc. now owns 2,546 shares of the business services provider’s stock valued at $529,000 after purchasing an additional 230 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WM shares. Jefferies Financial Group dropped their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. StockNews.com downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Friday. Oppenheimer raised their price target on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank raised shares of Waste Management from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $225.00 to $250.00 in a report on Monday, January 27th. Finally, Truist Financial raised 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. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $232.61.

Waste Management Trading Down 1.0 %

Shares of WM opened at $220.10 on Friday. The business’s 50-day moving average price is $212.19 and its 200 day moving average price is $211.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $88.34 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.20 and a beta of 0.77. Waste Management, Inc. has a 1-year low of $184.72 and a 1-year high of $230.39.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. Analysts expect that Waste Management, Inc. will post 7.99 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.36%. Waste Management’s dividend payout ratio (DPR) is presently 44.12%.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the 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 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 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.