Waste Management, Inc. (NYSE:WM) Shares Sold by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. trimmed its position in Waste Management, Inc. (NYSE:WM) by 11.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,947 shares of the business services provider’s stock after selling 528 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in Waste Management were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Credit Agricole S A grew its stake in Waste Management by 8.4% during the 1st quarter. Credit Agricole S A now owns 167,153 shares of the business services provider’s stock worth $21,566,000 after buying an additional 12,960 shares during the last quarter. Cerity Partners LLC grew its stake in Waste Management by 19.2% during the 1st quarter. Cerity Partners LLC now owns 7,758 shares of the business services provider’s stock worth $1,001,000 after buying an additional 1,251 shares during the last quarter. Bessemer Group Inc. grew its stake in Waste Management by 77.6% during the 1st quarter. Bessemer Group Inc. now owns 640,696 shares of the business services provider’s stock worth $82,662,000 after buying an additional 279,930 shares during the last quarter. Tower Bridge Advisors grew its stake in Waste Management by 13.4% during the 1st quarter. Tower Bridge Advisors now owns 21,330 shares of the business services provider’s stock worth $2,752,000 after buying an additional 2,525 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its stake in Waste Management by 0.9% during the 1st quarter. Bahl & Gaynor Inc. now owns 192,951 shares of the business services provider’s stock worth $24,894,000 after buying an additional 1,631 shares during the last quarter. Institutional investors and hedge funds own 74.10% of the company’s stock.

In other news, CFO Devina A. Rankin sold 33,115 shares of the stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $155.18, for a total transaction of $5,138,785.70. Following the transaction, the chief financial officer now owns 53,434 shares of the company’s stock, valued at approximately $8,291,888.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Leslie K. Nagy sold 269 shares of the stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $141.70, for a total value of $38,117.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,409 shares of company stock worth $12,021,367. Insiders own 0.16% of the company’s stock.

A number of research analysts recently commented on WM shares. Deutsche Bank Aktiengesellschaft upped their price objective on Waste Management from $138.00 to $152.00 and gave the stock a “hold” rating in a research note on Thursday, July 29th. BMO Capital Markets boosted their price target on Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Oppenheimer boosted their price target on Waste Management from $146.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, July 16th. Raymond James reiterated an “outperform” rating and set a $146.70 price target (down previously from $147.00) on shares of Waste Management in a research report on Monday, July 26th. Finally, Morgan Stanley boosted their price target on Waste Management from $133.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $139.97.

NYSE:WM traded down $1.04 during trading hours on Tuesday, hitting $151.01. 25,807 shares of the company’s stock traded hands, compared to its average volume of 1,606,826. The firm has a market cap of $63.59 billion, a P/E ratio of 40.33, a P/E/G ratio of 2.50 and a beta of 0.81. Waste Management, Inc. has a twelve month low of $106.11 and a twelve month high of $156.74. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.84 and a current ratio of 0.88. The stock’s fifty day moving average price is $151.25 and its two-hundred day moving average price is $141.91.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, July 27th. The business services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.09. Waste Management had a return on equity of 26.32% and a net margin of 9.69%. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period in the prior year, the firm posted $0.88 EPS. The business’s revenue was up 25.7% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 4.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.52%. The ex-dividend date was Thursday, September 2nd. Waste Management’s payout ratio is currently 57.07%.

Waste Management Profile

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.

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

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