PNC Financial Services Group Inc. Trims Stock Position in Waste Management, Inc. (NYSE:WM)

PNC Financial Services Group Inc. decreased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 42.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 566,010 shares of the business services provider's stock after selling 415,129 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.14% of Waste Management worth $101,372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. boosted its position in Waste Management by 8.2% during the third quarter. Assetmark Inc. now owns 1,392 shares of the business services provider's stock worth $212,000 after purchasing an additional 106 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Waste Management by 25.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 8,969 shares of the business services provider's stock worth $1,367,000 after acquiring an additional 1,796 shares in the last quarter. Duality Advisers LP acquired a new position in Waste Management during the third quarter worth $792,000. Cozad Asset Management Inc. grew its position in shares of Waste Management by 4.0% in the third quarter. Cozad Asset Management Inc. now owns 3,253 shares of the business services provider's stock valued at $496,000 after purchasing an additional 125 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Waste Management by 7.5% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,992 shares of the business services provider's stock worth $1,218,000 after purchasing an additional 559 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In related news, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Tara J. Hemmer sold 1,782 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total transaction of $363,937.86. Following the transaction, the senior vice president now directly owns 55,591 shares in the company, valued at $11,353,349.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Morris sold 8,889 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the completion of the sale, the executive vice president now owns 95,461 shares of the company's stock, valued at approximately $19,804,339.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,282 shares of company stock valued at $2,754,889. Corporate insiders own 0.18% of the company's stock.

Waste Management Stock Down 0.8 %

WM traded down $1.76 on Friday, hitting $210.44. 2,054,796 shares of the company were exchanged, compared to its average volume of 1,644,307. The firm has a 50-day moving average price of $209.62 and a two-hundred day moving average price of $192.58. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The company has a market cap of $84.40 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 2.73 and a beta of 0.72.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.23. The business had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company's revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $1.31 EPS. On average, equities analysts predict that Waste Management, Inc. will post 7.29 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management's payout ratio is currently 49.10%.

Analysts Set New Price Targets

WM has been the topic of a number of research reports. Stifel Nicolaus raised their price target on shares of Waste Management from $215.00 to $227.00 and gave the company a "buy" rating in a research note on Friday, April 26th. Oppenheimer boosted their price target on Waste Management from $221.00 to $228.00 and gave the stock an "outperform" rating in a research report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on Waste Management from $165.00 to $197.00 and gave the company a "neutral" rating in a report on Thursday, February 15th. TD Cowen lifted their target price on shares of Waste Management from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, April 29th. Finally, HSBC cut shares of Waste Management from a "buy" rating to a "hold" rating and set a $210.00 target price for the company. in a research report on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $216.24.

Waste Management 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.

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