M&T Bank Corp Sells 9,007 Shares of Waste Management, Inc. (NYSE:WM)

M&T Bank Corp lowered its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,808 shares of the business services provider's stock after selling 9,007 shares during the period. M&T Bank Corp's holdings in Waste Management were worth $45,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WM. Vanguard Group Inc. increased its holdings in shares of Waste Management by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock worth $7,526,823,000 after acquiring an additional 538,567 shares during the last quarter. Geode Capital Management LLC boosted its position in Waste Management by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock worth $1,654,173,000 after purchasing an additional 64,260 shares during the period. Parnassus Investments LLC raised its position in shares of Waste Management by 22.5% in the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after purchasing an additional 1,151,237 shares during the period. Norges Bank acquired a new stake in shares of Waste Management during the 4th quarter worth about $1,009,726,000. Finally, Ameriprise Financial Inc. grew its stake in Waste Management by 5.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after buying an additional 224,279 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Wall Street Analyst Weigh In

WM has been the subject of a number of research analyst reports. HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $210.00 to $265.00 in a report on Friday, April 25th. BMO Capital Markets increased their target price on Waste Management from $241.00 to $245.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 25th. Scotiabank increased their target price on Waste Management from $260.00 to $265.00 and gave the stock a "sector outperform" rating in a research note on Friday, June 27th. UBS Group increased their target price on Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and an average price target of $251.00.

Waste Management Price Performance

NYSE:WM traded down $2.10 during trading hours on Tuesday, hitting $224.82. The company's stock had a trading volume of 2,119,838 shares, compared to its average volume of 1,627,030. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The stock has a fifty day simple moving average of $232.83 and a 200-day simple moving average of $225.29. The company has a market capitalization of $90.47 billion, a P/E ratio of 33.91, a PEG ratio of 3.00 and a beta of 0.64.

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

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is 49.77%.

Insider Transactions at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the firm'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 transaction of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This trade represents a 3.91% 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 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.