1ST Source Bank Sells 363 Shares of Waste Management, Inc. (NYSE:WM)

1ST Source Bank decreased its stake in Waste Management, Inc. (NYSE:WM) by 2.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,215 shares of the business services provider’s stock after selling 363 shares during the quarter. 1ST Source Bank’s holdings in Waste Management were worth $3,272,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WM. Bartlett & CO. Wealth Management LLC lifted its stake in Waste Management by 0.8% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 278,185 shares of the business services provider’s stock valued at $56,135,000 after purchasing an additional 2,127 shares during the last quarter. Nordea Investment Management AB lifted its stake in Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Waste Management by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock valued at $99,759,000 after purchasing an additional 28,266 shares during the last quarter. Blue Trust Inc. lifted its stake in Waste Management by 32.3% in the 4th quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider’s stock valued at $1,529,000 after purchasing an additional 1,798 shares during the last quarter. Finally, Czech National Bank lifted its stake in Waste Management by 6.4% in the 4th quarter. Czech National Bank now owns 79,192 shares of the business services provider’s stock valued at $15,980,000 after purchasing an additional 4,798 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WM. Raymond James raised their target price on shares of Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Morgan Stanley raised their target price on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Citigroup raised their price objective on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group cut their price objective 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. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.65.

Insider Activity at Waste Management

In other Waste Management news, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John J. Morris sold 19,153 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the sale, the executive vice president now directly owns 85,257 shares in the company, valued at approximately $19,158,100.47. The trade was a 18.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,577 shares of company stock valued at $21,662,464 over the last three months. 0.18% of the stock is owned by insiders.

Waste Management Stock Up 0.8 %

NYSE WM opened at $225.06 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $235.81. The company has a 50 day moving average of $220.52 and a 200-day moving average of $215.35. The company has a market cap of $90.50 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.71 and a beta of 0.75.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) 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%. On average, equities research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.47%. This is a boost from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. Waste Management’s dividend payout ratio (DPR) is 48.53%.

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.