Adirondack Trust Co. Sells 55 Shares of Waste Management, Inc. (NYSE:WM)

Adirondack Trust Co. lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,726 shares of the business services provider’s stock after selling 55 shares during the quarter. Waste Management makes up approximately 0.8% of Adirondack Trust Co.’s holdings, making the stock its 28th biggest holding. Adirondack Trust Co.’s holdings in Waste Management were worth $2,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Activest Wealth Management boosted its position 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 worth $26,000 after purchasing an additional 120 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. General Partner Inc. acquired a new position in shares of Waste Management in the 4th quarter valued at $29,000. Sugar Maple Asset Management LLC acquired a new position in Waste Management in the fourth quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management in the second quarter worth about $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. Argus upped their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their target price on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, UBS Group boosted their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Stock Performance

NYSE:WM opened at $211.57 on Thursday. Waste Management, Inc. has a 1 year low of $183.00 and a 1 year high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The business has a fifty day simple moving average of $213.04 and a two-hundred day simple moving average of $211.29. The company has a market capitalization of $84.92 billion, a P/E ratio of 32.35, a P/E/G ratio of 2.18 and a beta of 0.77.

Waste Management (NYSE:WM) last announced its quarterly earnings data 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 business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 EPS. On average, analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

About Waste Management

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.