Estabrook Capital Management Has $353,000 Position in Waste Management, Inc. (NYSE:WM)

Estabrook Capital Management decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,656 shares of the business services provider’s stock after selling 64 shares during the period. Estabrook Capital Management’s holdings in Waste Management were worth $353,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC grew its position in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Waste Management in the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC bought a new position in Waste Management during the 1st quarter worth $35,000. Fairway Wealth LLC lifted its holdings in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of Waste Management in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada dropped their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. CIBC reduced their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Oppenheimer reduced their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Stock Performance

NYSE WM opened at $204.10 on Friday. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The stock has a market cap of $81.86 billion, a PE ratio of 33.40, a PEG ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The firm’s fifty day moving average price is $208.53 and its two-hundred day moving average price is $208.69.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.47%. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which is available 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.