Waste Management, Inc. (NYSE:WM) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Waste Management, Inc. by 2.9%, now holding 217,304 shares valued at approximately $50.3 million.
• Equities analysts have given Waste Management a consensus rating of "Moderate Buy" with a target price averaging $254.35, reflecting robust interest in the stock.
• The company announced a quarterly dividend of $0.825 with a yield of 1.4%, demonstrating ongoing shareholder returns amidst strong earnings growth.

US Bancorp DE decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,304 shares of the business services provider's stock after selling 6,518 shares during the quarter. US Bancorp DE owned 0.05% of Waste Management worth $50,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Waste Management by 10.7% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,199 shares of the business services provider's stock worth $972,000 after purchasing an additional 407 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Waste Management by 6.3% in the 1st quarter. Harbour Investments Inc. now owns 10,831 shares of the business services provider's stock worth $2,508,000 after purchasing an additional 644 shares during the period. Brentview Investment Management LLC purchased a new position in shares of Waste Management in the 1st quarter worth approximately $3,701,000. MGO One Seven LLC boosted its holdings in Waste Management by 2.0% during the 1st quarter. MGO One Seven LLC now owns 12,882 shares of the business services provider's stock valued at $2,982,000 after acquiring an additional 247 shares during the period. Finally, Sound View Wealth Advisors Group LLC boosted its holdings in Waste Management by 0.7% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 8,941 shares of the business services provider's stock valued at $2,070,000 after acquiring an additional 64 shares during the period. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 0.1%

Shares of NYSE WM traded down $0.27 during mid-day trading on Friday, reaching $228.89. 1,389,422 shares of the company were exchanged, compared to its average volume of 1,671,408. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The stock has a market cap of $92.20 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 2.81 and a beta of 0.64. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The firm has a 50-day moving average of $231.49 and a 200 day moving average of $228.38.

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

Waste Management Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Melius assumed coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating for the company. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $225.00 to $277.00 in a report on Friday, May 23rd. CIBC boosted their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Oppenheimer boosted their price objective on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Scotiabank boosted their price objective on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $254.35.

Insider Activity

In other news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction dated 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 directly owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

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.