Hemenway Trust Co LLC Reduces Stock Position in Waste Management, Inc. (NYSE:WM)

by · The Markets Daily

Hemenway Trust Co LLC cut its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,996 shares of the business services provider’s stock after selling 3,030 shares during the quarter. Hemenway Trust Co LLC’s holdings in Waste Management were worth $9,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WM. Checchi Capital Advisers LLC boosted its holdings in Waste Management by 0.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider’s stock valued at $1,366,000 after purchasing an additional 45 shares during the period. Catalyst Financial Partners LLC boosted its stake in Waste Management by 2.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider’s stock valued at $411,000 after buying an additional 48 shares during the period. Maia Wealth LLC grew its position in Waste Management by 4.1% during the fourth quarter. Maia Wealth LLC now owns 1,213 shares of the business services provider’s stock worth $259,000 after buying an additional 48 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Waste Management by 1.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,091 shares of the business services provider’s stock worth $624,000 after acquiring an additional 49 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Waste Management by 0.6% in the 4th quarter. Signaturefd LLC now owns 8,511 shares of the business services provider’s stock worth $1,717,000 after buying an additional 49 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Down 4.9 %

WM stock opened at $225.34 on Friday. The business’s 50-day moving average is $226.71 and its two-hundred day moving average is $217.35. The company has a market cap of $90.61 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $239.32. 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share 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%. As a group, analysts forecast 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.46%. This is an increase from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. Waste Management’s dividend payout ratio is presently 48.53%.

Analyst Upgrades and Downgrades

WM has been the topic of several research reports. CIBC lifted their price target on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Jefferies Financial Group dropped their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. StockNews.com cut Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Morgan Stanley raised their price target on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Scotiabank boosted their price objective on shares of Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.65.

Get Our Latest Stock Report on Waste Management

Insider Transactions at Waste Management

In other Waste Management news, SVP Johnson Varkey sold 124 shares of Waste Management stock in a transaction 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 transaction, the senior vice president now directly owns 8,491 shares of the company’s stock, valued at $1,995,045.36. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO John A. Carroll sold 209 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the sale, the chief accounting officer now owns 9,066 shares in the company, valued at $1,999,506.30. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,577 shares of company stock valued at $21,662,464. 0.18% of the stock is currently owned by corporate insiders.

About Waste Management

(Free Report)

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.

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