Argent Trust Co Buys 1,722 Shares of Waste Management, Inc. (NYSE:WM)

Key Points

• Argent Trust Co increased its stake in Waste Management, Inc. by 12.0%, acquiring an additional 1,722 shares during the first quarter, bringing its total holdings to 16,106 shares valued at approximately $3.73 million.
• Waste Management reported a quarterly EPS of $1.92, exceeding analyst expectations of $1.89 and reflecting a 19.0% year-over-year revenue growth of $6.43 billion.
• The company declared a quarterly dividend of $0.825 per share, resulting in an annualized dividend of $3.30 and a dividend yield of 1.4%.

Argent Trust Co boosted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,106 shares of the business services provider's stock after buying an additional 1,722 shares during the quarter. Argent Trust Co's holdings in Waste Management were worth $3,729,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WM. Westend Capital Management LLC grew its position in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares during the period. Transce3nd LLC bought a new position in Waste Management during the fourth quarter valued at about $28,000. West Branch Capital LLC grew its position in Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after buying an additional 49 shares during the period. Hurley Capital LLC bought a new position in Waste Management during the fourth quarter valued at about $34,000. Finally, Adalta Capital Management LLC bought a new position in Waste Management during the fourth quarter valued at about $40,000. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM stock opened at $228.89 on Monday. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock has a market cap of $92.20 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The company's fifty day moving average price is $231.49 and its 200-day moving average price is $228.38.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The company's quarterly revenue was up 19.0% on a year-over-year basis. On average, equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. Waste Management's dividend payout ratio is presently 48.96%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WM shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a report on Monday, June 9th. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a report on Tuesday, May 6th. Wall Street Zen raised shares of Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Citigroup raised their target price on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Insider Activity

In related news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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.

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