Bank of New York Mellon Corp Sells 238,155 Shares of Waste Management, Inc. (NYSE:WM)

Bank of New York Mellon Corp decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 8.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,723,408 shares of the business services provider's stock after selling 238,155 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of Waste Management worth $630,496,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WM. Westend Capital Management LLC increased 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 worth $27,000 after acquiring an additional 66 shares during the period. West Branch Capital LLC boosted its stake 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 worth $28,000 after buying an additional 49 shares in the last quarter. Transce3nd LLC acquired a new stake in Waste Management during the fourth quarter worth $28,000. Hurley Capital LLC acquired a new stake in Waste Management during the fourth quarter worth $34,000. Finally, Fairway Wealth LLC boosted its stake in shares of Waste Management by 87.6% in the 4th quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock valued at $40,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Insider Transactions at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Waste Management Price Performance

Shares of NYSE WM traded up $3.04 during mid-day trading on Friday, reaching $226.43. The company had a trading volume of 1,525,978 shares, compared to its average volume of 1,625,495. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The firm has a market cap of $91.12 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.00 and a beta of 0.64. The business's 50-day simple moving average is $232.87 and its 200 day simple moving average is $225.01.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. During the same quarter last year, the business earned $1.75 earnings per share. Waste Management's revenue was up 16.7% on a year-over-year basis. On average, research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's payout ratio is 49.77%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WM. Seaport Res Ptn raised Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Robert W. Baird upped their price target on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Citigroup increased their price objective on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Scotiabank increased their price target on Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a research note on Friday, June 27th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $251.00.

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.