Home Federal Bank of Tennessee Grows Stock Holdings in Waste Management, Inc. (NYSE:WM)

Home Federal Bank of Tennessee increased its stake in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,627 shares of the business services provider’s stock after purchasing an additional 140 shares during the period. Waste Management makes up 1.1% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 16th largest holding. Home Federal Bank of Tennessee’s holdings in Waste Management were worth $2,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in WM. Acadian Asset Management LLC bought a new position in shares of Waste Management in the fourth quarter worth approximately $87,000. Invesco Ltd. boosted its position in shares of Waste Management by 1.1% during the fourth quarter. Invesco Ltd. now owns 1,611,602 shares of the business services provider’s stock worth $268,977,000 after acquiring an additional 18,110 shares during the last quarter. Hilltop Holdings Inc. boosted its position in shares of Waste Management by 4.8% during the fourth quarter. Hilltop Holdings Inc. now owns 4,069 shares of the business services provider’s stock worth $680,000 after acquiring an additional 188 shares during the last quarter. Gotham Asset Management LLC boosted its position in shares of Waste Management by 10.7% during the fourth quarter. Gotham Asset Management LLC now owns 12,228 shares of the business services provider’s stock worth $2,041,000 after acquiring an additional 1,179 shares during the last quarter. Finally, Mutual Advisors LLC boosted its position in shares of Waste Management by 1.1% during the fourth quarter. Mutual Advisors LLC now owns 7,615 shares of the business services provider’s stock worth $1,271,000 after acquiring an additional 82 shares during the last quarter. 74.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WM. Oppenheimer set a $160.00 price target on shares of Waste Management in a research note on Tuesday, July 19th. Morgan Stanley upped their price target on shares of Waste Management from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 20th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waste Management presently has an average rating of “Hold” and an average price target of $164.86.

Waste Management Stock Performance

Shares of Waste Management stock traded down $1.72 during midday trading on Friday, hitting $165.15. The company had a trading volume of 46,458 shares, compared to its average volume of 1,687,474. Waste Management, Inc. has a 12-month low of $138.58 and a 12-month high of $175.98. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.95. The stock has a market cap of $68.26 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.51 and a beta of 0.76. The company has a fifty day simple moving average of $167.57 and a 200 day simple moving average of $159.87.

Waste Management (NYSE:WMGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.08. Waste Management had a net margin of 11.27% and a return on equity of 30.69%. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter last year, the company earned $1.27 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts predict that Waste Management, Inc. will post 5.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $0.65 dividend. The ex-dividend date is Thursday, September 8th. This represents a $2.60 annualized dividend and a yield of 1.57%. Waste Management’s dividend payout ratio (DPR) is currently 50.78%.

Insiders Place Their Bets

In related news, CFO Devina A. Rankin sold 22,082 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $175.00, for a total value of $3,864,350.00. Following the completion of the transaction, the chief financial officer now directly owns 50,516 shares of the company’s stock, valued at $8,840,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Waste Management news, VP Michael J. Watson sold 8,971 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $169.83, for a total value of $1,523,544.93. Following the completion of the transaction, the vice president now owns 32,221 shares in the company, valued at $5,472,092.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 22,082 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $175.00, for a total value of $3,864,350.00. Following the completion of the transaction, the chief financial officer now owns 50,516 shares of the company’s stock, valued at approximately $8,840,300. The disclosure for this sale can be found here. Insiders have sold 54,067 shares of company stock worth $9,292,271 over the last three months. Company insiders own 0.18% of the company’s stock.

Waste Management Profile

(Get Rating)

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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