SVB Wealth LLC Sells 2,807 Shares of Waste Management, Inc. $WM

SVB Wealth LLC cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 18.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,697 shares of the business services provider’s stock after selling 2,807 shares during the quarter. SVB Wealth LLC’s holdings in Waste Management were worth $2,589,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. BlackRock Inc. increased its position in shares of Waste Management by 1.8% during the 2nd quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider’s stock worth $6,849,981,000 after purchasing an additional 535,079 shares in the last quarter. State Street Corp lifted its holdings in Waste Management by 2.9% during the 2nd quarter. State Street Corp now owns 18,008,931 shares of the business services provider’s stock valued at $4,013,831,000 after purchasing an additional 507,209 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Waste Management by 1.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,121,427 shares of the business services provider’s stock valued at $695,704,000 after buying an additional 35,322 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Waste Management by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,320,966 shares of the business services provider’s stock worth $533,340,000 after buying an additional 26,847 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Waste Management by 8.2% during the second quarter. Deutsche Bank AG now owns 2,207,477 shares of the business services provider’s stock worth $492,002,000 after buying an additional 166,458 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Up 1.5%

Shares of NYSE:WM opened at $244.00 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.21. The firm has a market cap of $97.03 billion, a P/E ratio of 32.02, a P/E/G ratio of 3.12 and a beta of 0.38. Waste Management, Inc. has a 12 month low of $200.57 and a 12 month high of $248.13. The company’s 50-day moving average price is $221.00 and its two-hundred day moving average price is $225.81.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.03). Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the firm posted $1.98 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that Waste Management, Inc. will post 8.05 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.9450 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is currently 49.61%.

Insider Buying and Selling

In related news, CAO John Carroll sold 1,365 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the transaction, the chief accounting officer owned 3,509 shares in the company, valued at $771,629.10. The trade was a 28.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Johnson Varkey sold 500 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $242.00, for a total value of $121,000.00. Following the transaction, the senior vice president directly owned 8,713 shares in the company, valued at approximately $2,108,546. This represents a 5.43% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WM shares. TD Cowen reiterated a “buy” rating on shares of Waste Management in a research note on Thursday, October 29th. Weiss Ratings upgraded Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Raymond James Financial set a $251.00 price target on Waste Management in a report on Thursday, October 29th. UBS Group lifted their price objective on Waste Management from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Finally, BMO Capital Markets reduced their price objective on Waste Management from $240.00 to $232.00 and set a “market perform” rating on the stock in a research note on Thursday, October 15th. Eighteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $257.04.

Waste Management Profile

Waste Management, Inc., doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure. WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.