Waste Management, Inc. (NYSE:WM) Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,851 shares of the business services provider's stock after acquiring an additional 1,277 shares during the period. First Citizens Bank & Trust Co.'s holdings in Waste Management were worth $7,374,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Capital Investment Advisors LLC boosted its stake in shares of Waste Management by 13.0% in the 1st quarter. Capital Investment Advisors LLC now owns 10,530 shares of the business services provider's stock valued at $2,438,000 after buying an additional 1,211 shares during the period. BCS Wealth Management purchased a new position in shares of Waste Management during the first quarter worth approximately $223,000. Wedge Capital Management L L P NC increased its holdings in shares of Waste Management by 25.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 18,201 shares of the business services provider's stock valued at $4,214,000 after acquiring an additional 3,639 shares during the period. Park Avenue Securities LLC raised its position in Waste Management by 92.1% in the 1st quarter. Park Avenue Securities LLC now owns 12,858 shares of the business services provider's stock valued at $2,977,000 after purchasing an additional 6,165 shares during the last quarter. Finally, OLD National Bancorp IN boosted its stake in shares of Waste Management by 11.1% during the first quarter. OLD National Bancorp IN now owns 8,601 shares of the business services provider's stock worth $1,991,000 after buying an additional 862 shares during the period. Institutional investors and hedge funds 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 the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer now owns 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president now directly owns 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and lifted their price objective for the company from $210.00 to $265.00 in a research report on Friday, April 25th. National Bank Financial raised Waste Management to a "hold" rating in a report on Monday, May 26th. Hsbc Global Res upgraded shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Robert W. Baird lifted their price objective on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, CIBC boosted their price target on Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and an average price target of $248.00.

Waste Management Stock Down 1.0%

Waste Management stock traded down $2.40 during trading on Monday, reaching $233.94. 1,305,758 shares of the company's stock were exchanged, compared to its average volume of 1,745,117. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The company's 50-day moving average is $231.31 and its two-hundred day moving average is $223.48. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. The firm has a market cap of $94.14 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same period last year, the business earned $1.75 EPS. The business's revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.41%. Waste Management's dividend payout ratio is presently 49.77%.

About Waste Management

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.