Waste Management, Inc. $WM Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 27.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,968 shares of the business services provider’s stock after buying an additional 3,849 shares during the period. Independence Bank of Kentucky’s holdings in Waste Management were worth $3,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. McAdam LLC raised its holdings in shares of Waste Management by 3.1% in the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after buying an additional 44 shares during the last quarter. Syntegra Private Wealth Group LLC lifted its position in Waste Management by 2.0% during the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock worth $524,000 after acquiring an additional 44 shares during the period. Harbour Trust & Investment Management Co grew its stake in shares of Waste Management by 1.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after purchasing an additional 45 shares during the last quarter. KWB Wealth increased its holdings in shares of Waste Management by 1.3% in the second quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock valued at $835,000 after purchasing an additional 47 shares during the period. Finally, D.B. Root & Company LLC raised its stake in shares of Waste Management by 3.0% during the second quarter. D.B. Root & Company LLC now owns 1,603 shares of the business services provider’s stock worth $367,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.8%

WM opened at $216.54 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The company has a market cap of $87.24 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.69 and a beta of 0.58. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The business’s fifty day moving average is $211.26 and its two-hundred day moving average is $221.23.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is 51.97%.

Wall Street Analyst Weigh In

WM has been the topic of a number of analyst reports. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Morgan Stanley lowered their target price on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a report on Wednesday. Stifel Nicolaus cut their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. The Goldman Sachs Group began coverage on Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective on the stock. Finally, DZ Bank initiated coverage on Waste Management in a research note on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $248.95.

Insider Activity

In related news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.