Midwest Trust Co Purchases 6,618 Shares of Waste Management, Inc. $WM

Key Points

• Midwest Trust Co increased its Waste Management stake by 7.3% in the fourth quarter, buying 6,618 additional shares and bringing its total holding to 97,463 shares worth about $21.4 million.
• Waste Management reported stronger-than-expected quarterly earnings of $1.81 per share, though revenue of $6.23 billion came in slightly below estimates; analysts still expect full-year EPS of 8.15.
• The company raised its dividend to $0.945 per quarter, while analysts maintain a generally positive outlook with a consensus rating of “Moderate Buy” and an average price target of $255.67.

Midwest Trust Co grew its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,463 shares of the business services provider's stock after acquiring an additional 6,618 shares during the quarter. Midwest Trust Co's holdings in Waste Management were worth $21,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of WM. Brighton Jones LLC increased its holdings in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Sprott Inc. bought a new stake in shares of Waste Management during the first quarter valued at approximately $325,000. Sei Investments Co. increased its holdings in shares of Waste Management by 8.0% during the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider's stock valued at $62,339,000 after acquiring an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Waste Management by 68.2% during the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider's stock valued at $83,843,000 after acquiring an additional 148,590 shares in the last quarter. Finally, Glenview Trust co increased its holdings in shares of Waste Management by 5.1% during the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider's stock valued at $764,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Insiders Place Their Bets

In other Waste Management news, COO John J. Morris sold 7,979 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $245.07, for a total value of $1,955,413.53. Following the transaction, the chief operating officer owned 98,656 shares of the company's stock, valued at approximately $24,177,625.92. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald J. Smith sold 12,194 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the completion of the transaction, the vice president directly owned 6,024 shares in the company, valued at approximately $1,406,483.52. This represents a 66.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 91,959 shares of company stock valued at $21,698,005. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Down 2.8%

WM stock opened at $215.18 on Friday. The stock's fifty day simple moving average is $231.84 and its two-hundred day simple moving average is $222.91. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The stock has a market cap of $86.41 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.25 and a beta of 0.49.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The business's revenue was up 3.5% on a year-over-year basis. Analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.945 dividend. This is an increase from Waste Management's previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, March 13th. Waste Management's payout ratio is presently 54.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Robert W. Baird upped their price target on Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Oppenheimer upped their price target on Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Wells Fargo & Company decreased their price target on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Scotiabank reiterated a "sector perform" rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. upped their price target on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $255.67.

Waste Management Company Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.