Waste Management, Inc. (NYSE:WM) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its position in Waste Management, Inc. (NYSE:WM) by 19.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,130 shares of the business services provider’s stock after selling 529 shares during the period. FineMark National Bank & Trust’s holdings in Waste Management were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WM. Mattern Capital Management LLC increased its position in shares of Waste Management by 33.5% in the second quarter. Mattern Capital Management LLC now owns 2,074 shares of the business services provider’s stock worth $442,000 after acquiring an additional 520 shares in the last quarter. Larson Financial Group LLC raised its position in Waste Management by 47.6% in the second quarter. Larson Financial Group LLC now owns 1,812 shares of the business services provider’s stock valued at $387,000 after purchasing an additional 584 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of Waste Management by 36.0% during the second quarter. Foundations Investment Advisors LLC now owns 2,196 shares of the business services provider’s stock worth $469,000 after purchasing an additional 581 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in Waste Management in the 2nd quarter worth approximately $219,000. Finally, Archer Investment Corp raised its stake in shares of Waste Management by 1,204.8% during the second quarter. Archer Investment Corp now owns 1,083 shares of the business services provider’s stock valued at $231,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Stock Performance

Shares of WM opened at $204.74 on Friday. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $82.12 billion, a PE ratio of 33.51, a P/E/G ratio of 2.34 and a beta of 0.74. The firm has a 50-day moving average price of $209.43 and a 200 day moving average price of $208.68.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.51 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WM. BMO Capital Markets decreased their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. CIBC decreased their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Finally, Robert W. Baird decreased their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

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.