1ST Source Bank Acquires 530 Shares of Waste Management, Inc. (NYSE:WM)

1ST Source Bank boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.3% during the 3rd quarter, Holdings Channel reports. The fund owned 16,578 shares of the business services provider’s stock after buying an additional 530 shares during the period. 1ST Source Bank’s holdings in Waste Management were worth $3,442,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Activest Wealth Management boosted its holdings in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Fairway Wealth LLC boosted its holdings in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Waste Management in the 2nd quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of Waste Management by 51.8% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 72 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

WM traded down $0.73 on Friday, hitting $213.72. 255,091 shares of the company’s stock were exchanged, compared to its average volume of 1,608,876. Waste Management, Inc. has a fifty-two week low of $173.01 and a fifty-two week high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a 50-day moving average price of $217.55 and a 200-day moving average price of $211.37. The stock has a market cap of $85.78 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 2.26 and a beta of 0.75.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion for 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 firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.63 EPS. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. Waste Management’s payout ratio is 45.87%.

Analyst Upgrades and Downgrades

WM has been the subject of several research analyst reports. Argus increased their price objective on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Scotiabank began coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. Royal Bank of Canada raised their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.