Waste Management, Inc. (NYSE:WM) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in Waste Management, Inc. (NYSE:WM) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,462 shares of the business services provider’s stock after selling 10,719 shares during the period. Fifth Third Bancorp’s holdings in Waste Management were worth $47,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board raised its stake in Waste Management by 167.1% in the second quarter. Public Sector Pension Investment Board now owns 9,235 shares of the business services provider’s stock valued at $1,970,000 after buying an additional 5,777 shares in the last quarter. AlTi Global Inc. lifted its position in Waste Management by 35.6% in the second quarter. AlTi Global Inc. now owns 1,802 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 473 shares during the period. AQR Capital Management LLC boosted its holdings in Waste Management by 0.8% in the 2nd quarter. AQR Capital Management LLC now owns 460,102 shares of the business services provider’s stock valued at $97,671,000 after purchasing an additional 3,575 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in shares of Waste Management by 21.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 5,556 shares of the business services provider’s stock valued at $1,185,000 after buying an additional 988 shares during the period. Finally, MBB Public Markets I LLC grew its holdings in Waste Management by 1,798.6% during the second quarter. MBB Public Markets I LLC now owns 28,897 shares of the business services provider’s stock worth $6,165,000 after acquiring an additional 27,375 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Down 0.3 %

WM opened at $209.43 on Friday. Waste Management, Inc. has a twelve month low of $183.00 and a twelve month high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The business has a 50 day moving average price of $212.81 and a 200 day moving average price of $211.28. The firm has a market cap of $84.06 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 earnings per share. Research analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Analyst Ratings Changes

A number of research firms recently commented on WM. Stifel Nicolaus boosted their price objective on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. UBS Group upped their price target on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer increased their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Jefferies Financial Group decreased their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Morgan Stanley raised their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.72.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by company 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.