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Waste Management, Inc. (NYSE:WM) Shares Sold by Commerce Bank

Waste Management logo with Business Services background

Key Points

  • Commerce Bank reduced its holdings in Waste Management, Inc. by 1.3% in the first quarter, maintaining ownership of 254,656 shares valued at approximately $58.95 million.
  • In recent analyst ratings, CIBC and Robert W. Baird set neutral ratings with target price increases, while Melius Research upgraded Waste Management to a "strong-buy" rating with a target price of $263.00.
  • Waste Management reported quarterly earnings of $1.92 per share, exceeding estimates, and also declared a quarterly dividend of $0.825 paid to shareholders, reflecting a 1.4% yield.
  • MarketBeat previews the top five stocks to own by September 1st.

Commerce Bank decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,656 shares of the business services provider's stock after selling 3,373 shares during the quarter. Commerce Bank owned 0.06% of Waste Management worth $58,955,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Waste Management by 51.1% in 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. Golden State Wealth Management LLC raised its holdings in Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after purchasing an additional 232 shares in the last quarter. Calamos Advisors LLC raised its holdings in Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after purchasing an additional 7,751 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after purchasing an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after purchasing an additional 958 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Ratings Changes

WM has been the topic of a number of research reports. CIBC raised their target price on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Robert W. Baird raised their target price on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research report on Monday, June 9th. Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Melius began coverage on shares of Waste Management in a research report on Monday, June 9th. They issued a "buy" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average price target of $254.35.

View Our Latest Stock Analysis on WM

Waste Management Trading Down 1.5%

NYSE WM opened at $228.93 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.79. The firm has a market cap of $92.12 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.83 and a beta of 0.64. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The stock's 50-day moving average is $231.65 and its 200-day moving average is $227.97.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The business's revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company earned $1.82 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.4%. Waste Management's payout ratio is currently 48.96%.

Insider Buying and Selling at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction 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 transaction, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction on 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 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 insiders.

Waste Management Profile

(Free Report)

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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