Waste Management, Inc. (NYSE:WM) Shares Sold by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 7.3% in the first quarter, Holdings Channel.com reports. The fund owned 1,225 shares of the business services provider’s stock after selling 97 shares during the quarter. New Covenant Trust Company N.A.’s holdings in Waste Management were worth $279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Branch Capital LLC raised its holdings in shares of Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares during the period. Transce3nd LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management in the fourth quarter valued at approximately $33,000. Hurley Capital LLC acquired a new stake in Waste Management in the fourth quarter worth $34,000. Finally, Fairway Wealth LLC increased its holdings in shares of Waste Management by 87.6% in the 4th quarter. Fairway Wealth LLC now owns 197 shares of the business services provider’s stock worth $40,000 after acquiring an additional 92 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of NYSE:WM opened at $234.75 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58. The business has a 50 day moving average price of $233.12 and a 200 day moving average price of $224.13. The company has a market cap of $94.47 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 3.07 and a beta of 0.66.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, beating the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.14 billion. During the same quarter in the prior year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is currently 49.77%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Melius Research raised Waste Management to a “strong-buy” rating and set a $263.00 target price on the stock in a research report on Monday, June 9th. Seaport Res Ptn upgraded Waste Management to a “hold” rating in a research report on Tuesday, May 6th. Citigroup boosted their target price on shares of Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Robert W. Baird raised their target price on Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $248.00.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer now directly owns 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president now directly owns 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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.