Parkside Financial Bank & Trust Raises Position in Waste Management, Inc. (NYSE:WM)

Parkside Financial Bank & Trust boosted its stake in Waste Management, Inc. (NYSE:WM) by 45.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,640 shares of the business services provider’s stock after buying an additional 515 shares during the period. Parkside Financial Bank & Trust’s holdings in Waste Management were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WM. abrdn plc grew its position in shares of Waste Management by 315.7% during the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock valued at $222,165,000 after acquiring an additional 1,106,773 shares during the period. Mirova US LLC grew its stake in Waste Management by 26,116.4% in the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after acquiring an additional 910,418 shares in the last quarter. Nordea Investment Management AB grew its stake in Waste Management by 16.9% in the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after acquiring an additional 776,491 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of Waste Management by 128.2% in the 3rd quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock worth $137,012,000 after purchasing an additional 504,924 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Waste Management by 13,927.7% in the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock worth $90,319,000 after purchasing an additional 500,701 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 1,782 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total transaction of $363,937.86. Following the completion of the transaction, the senior vice president now directly owns 55,591 shares of the company’s stock, valued at approximately $11,353,349.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Tara J. Hemmer sold 1,782 shares of Waste Management stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total value of $363,937.86. Following the completion of the transaction, the senior vice president now directly owns 55,591 shares of the company’s stock, valued at approximately $11,353,349.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald J. Smith sold 329 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total transaction of $65,326.24. Following the completion of the sale, the vice president now owns 5,522 shares in the company, valued at $1,096,448.32. The disclosure for this sale can be found here. In the last three months, insiders sold 18,007 shares of company stock valued at $3,696,520. Corporate insiders own 0.18% of the company’s stock.

Waste Management Trading Up 0.1 %

NYSE WM traded up $0.25 during mid-day trading on Wednesday, reaching $209.03. 424,513 shares of the stock were exchanged, compared to its average volume of 1,646,512. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54. The business’s fifty day simple moving average is $207.88 and its 200 day simple moving average is $186.15. The stock has a market capitalization of $83.88 billion, a PE ratio of 36.89, a PEG ratio of 3.15 and a beta of 0.72. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.86 and a current ratio of 0.90.

Waste Management (NYSE:WM) last issued its earnings results on Monday, February 12th. The business services provider reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.21. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $1.30 EPS. On average, research analysts anticipate that Waste Management, Inc. will post 6.88 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 14th. Waste Management’s dividend payout ratio (DPR) is presently 53.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WM. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. HSBC lowered shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target on the stock. in a research report on Thursday, February 15th. Truist Financial lifted their price target on shares of Waste Management from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada assumed coverage on Waste Management in a research report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $204.85.

Waste Management 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.