City Holding Co. Lowers Stock Position in Waste Management, Inc. (NYSE:WM)

City Holding Co. trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,400 shares of the business services provider’s stock after selling 139 shares during the period. Waste Management comprises about 1.4% of City Holding Co.’s investment portfolio, making the stock its 12th biggest position. City Holding Co.’s holdings in Waste Management were worth $10,048,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WM. Atomi Financial Group Inc. raised its stake in Waste Management by 1.3% during the third quarter. Atomi Financial Group Inc. now owns 6,241 shares of the business services provider’s stock valued at $1,296,000 after purchasing an additional 81 shares in the last quarter. Insight Wealth Strategies LLC increased its position in shares of Waste Management by 2.1% during the 3rd quarter. Insight Wealth Strategies LLC now owns 11,249 shares of the business services provider’s stock valued at $2,335,000 after purchasing an additional 232 shares during the last quarter. Trium Capital LLP raised its holdings in Waste Management by 33.6% during the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after buying an additional 3,029 shares during the period. MBM Wealth Consultants LLC lifted its holdings in shares of Waste Management by 5.7% in the 3rd quarter. MBM Wealth Consultants LLC now owns 8,407 shares of the business services provider’s stock worth $1,745,000 after acquiring an additional 453 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in Waste Management by 0.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 19,945 shares of the business services provider’s stock worth $4,141,000 after purchasing an additional 137 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the company’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 transaction of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

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

Waste Management (NYSE:WM) last released 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 net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WM shares. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Royal Bank of Canada decreased their target price on 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. Truist Financial cut their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Erste Group Bank restated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Company 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.