Stock Yards Bank & Trust Co. Has $37.82 Million Holdings in Waste Management, Inc. $WM

Stock Yards Bank & Trust Co. decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 164,573 shares of the business services provider’s stock after selling 3,190 shares during the period. Waste Management accounts for about 1.2% of Stock Yards Bank & Trust Co.’s investment portfolio, making the stock its 28th biggest holding. Stock Yards Bank & Trust Co.’s holdings in Waste Management were worth $37,817,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WM. Brighton Jones LLC raised its holdings in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Sprott Inc. acquired a new stake in shares of Waste Management in the 1st quarter valued at about $325,000. Sei Investments Co. grew its stake in shares of Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after buying an additional 20,122 shares during the period. The Manufacturers Life Insurance Company increased its position in Waste Management by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after buying an additional 148,590 shares in the last quarter. Finally, Glenview Trust co raised its stake in Waste Management by 5.1% during the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after buying an additional 162 shares during the period. Institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WM. Barclays raised their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Royal Bank Of Canada lifted their price target on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Robert W. Baird boosted their price target on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Wolfe Research began coverage on shares of Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

Waste Management Stock Performance

Shares of Waste Management stock opened at $224.31 on Thursday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The business has a 50 day moving average price of $220.16 and a 200-day moving average price of $225.28. The company has a market cap of $90.08 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.33 and a beta of 0.44.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. Waste Management’s quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s payout ratio is currently 54.70%.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.