Central Pacific Bank Trust Division Decreases Stake in Waste Management, Inc. (NYSE:WM)

Central Pacific Bank Trust Division decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,200 shares of the business services provider’s stock after selling 1,300 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Waste Management were worth $848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fiera Capital Corp grew its position in shares of Waste Management by 72.2% in the second quarter. Fiera Capital Corp now owns 2,066 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 866 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in Waste Management in the 2nd quarter valued at $219,000. Foundations Investment Advisors LLC increased its stake in shares of Waste Management by 36.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,196 shares of the business services provider’s stock worth $469,000 after acquiring an additional 581 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Waste Management by 47.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,812 shares of the business services provider’s stock worth $387,000 after acquiring an additional 584 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Waste Management by 23.3% during the 2nd quarter. TD Asset Management Inc now owns 204,780 shares of the business services provider’s stock valued at $43,688,000 after acquiring an additional 38,638 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $201.65 on Friday. The business has a 50-day simple moving average of $215.82 and a 200-day simple moving average of $211.53. The company has a market cap of $80.94 billion, a PE ratio of 30.83, a P/E/G ratio of 2.36 and a beta of 0.75. Waste Management, Inc. has a one year low of $176.68 and a one year high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share 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 analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. On average, equities research analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WM shares. BMO Capital Markets lifted their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. CIBC upped their price objective on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Truist Financial raised their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price target on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $230.72.

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.