Cape ANN Savings Bank Sells 78 Shares of Waste Management, Inc. (NYSE:WM)

Cape ANN Savings Bank cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,602 shares of the business services provider’s stock after selling 78 shares during the period. Cape ANN Savings Bank’s holdings in Waste Management were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC lifted its holdings in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new position in shares of Waste Management during the first quarter worth about $35,000. Fairway Wealth LLC lifted its stake in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Waste Management in the second quarter valued at approximately $36,000. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

WM stock opened at $208.68 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a market cap of $83.75 billion, a PE ratio of 34.15, a P/E/G ratio of 2.33 and a beta of 0.74. The business has a 50 day moving average of $206.84 and a 200-day moving average of $208.45. Waste Management, Inc. has a 12-month low of $153.95 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price objective 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. Oppenheimer dropped their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets decreased their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Robert W. Baird lowered their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

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.