Central Pacific Bank Trust Division Sells 1,300 Shares of Waste Management, Inc. (NYSE:WM)

Central Pacific Bank Trust Division lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 23.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,200 shares of the business services provider’s stock after selling 1,300 shares during the period. Central Pacific Bank Trust Division’s holdings in Waste Management were worth $848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WM. Geode Capital Management LLC raised its holdings in shares of Waste Management by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock valued at $1,686,203,000 after purchasing an additional 168,818 shares in the last quarter. Parnassus Investments LLC raised its stake in Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after buying an additional 12,664 shares during the period. Legal & General Group Plc boosted its position in Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after acquiring an additional 243,900 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

Waste Management Stock Performance

Shares of NYSE WM opened at $201.65 on Friday. The company has a market capitalization of $80.94 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The company’s fifty day moving average price is $215.82 and its 200 day moving average price is $211.53. Waste Management, Inc. has a 1 year low of $176.68 and a 1 year high of $230.39.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $1.63 EPS. On average, research analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. Waste Management’s dividend payout ratio is currently 45.87%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WM shares. Royal Bank of Canada raised their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $230.72.

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.