First National Trust Co Sells 2,538 Shares of Waste Management, Inc. (NYSE:WM)

First National Trust Co cut its stake in Waste Management, Inc. (NYSE:WM) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,200 shares of the business services provider’s stock after selling 2,538 shares during the period. First National Trust Co’s holdings in Waste Management were worth $7,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management raised its position in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in shares of Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at about $29,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $33,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Waste Management in the 4th quarter valued at about $35,000. 80.40% of the stock is owned by institutional investors.

Waste Management Price Performance

Shares of Waste Management stock opened at $222.92 on Friday. Waste Management, Inc. has a one year low of $196.59 and a one year high of $235.81. The stock has a market cap of $89.64 billion, a P/E ratio of 32.78, a P/E/G ratio of 2.71 and a beta of 0.75. The stock’s fifty day moving average is $220.05 and its 200 day moving average is $215.15. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio is presently 48.53%.

Insider Buying and Selling

In related news, CEO James C. Fish, Jr. sold 44,405 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $228.43, for a total transaction of $10,143,434.15. Following the sale, the chief executive officer now owns 211,061 shares in the company, valued at approximately $48,212,664.23. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Johnson Varkey sold 124 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total value of $29,135.04. Following the completion of the sale, the senior vice president now directly owns 8,491 shares in the company, valued at approximately $1,995,045.36. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,577 shares of company stock worth $21,662,464 in the last three months. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. Citigroup boosted their price objective on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James raised their target price on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. CIBC increased their target price on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Finally, Scotiabank lifted their price target on shares of Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. Nine 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.65.

Waste Management Company 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.