FinTrust Capital Advisors LLC Trims Stake in Waste Management, Inc. (NYSE:WM)
FinTrust Capital Advisors LLC lowered its stake in Waste Management, Inc. (NYSE:WM) by 68.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 455 shares of the business services provider’s stock after selling 1,000 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Waste Management were worth $51,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of WM. Morgan Stanley lifted its stake in shares of Waste Management by 10.5% during the 1st quarter. Morgan Stanley now owns 3,181,505 shares of the business services provider’s stock worth $294,481,000 after purchasing an additional 302,213 shares during the period. M&G Investment Management Ltd. purchased a new position in shares of Waste Management during the 2nd quarter worth $231,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Waste Management by 210.3% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 301 shares of the business services provider’s stock worth $32,000 after purchasing an additional 204 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Waste Management by 4.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 236,546 shares of the business services provider’s stock worth $25,053,000 after purchasing an additional 10,811 shares during the period. Finally, Weaver Consulting Group lifted its stake in shares of Waste Management by 52.7% during the 2nd quarter. Weaver Consulting Group now owns 1,072 shares of the business services provider’s stock worth $114,000 after purchasing an additional 370 shares during the period. 71.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE WM opened at $120.35 on Friday. Waste Management, Inc. has a 12-month low of $85.34 and a 12-month high of $126.79. The company has a market cap of $50.86 billion, a P/E ratio of 31.84, a P/E/G ratio of 4.70 and a beta of 0.72. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average price of $115.88 and a 200 day moving average price of $109.66.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a $0.545 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $2.18 dividend on an annualized basis and a yield of 1.81%. Waste Management’s payout ratio is currently 49.55%.
In other Waste Management news, VP Michael J. Watson sold 9,442 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $117.43, for a total value of $1,108,774.06. Following the completion of the transaction, the vice president now directly owns 23,296 shares of the company’s stock, valued at approximately $2,735,649.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Tara J. Hmmer sold 8,852 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $123.85, for a total transaction of $1,096,320.20. Following the completion of the transaction, the senior vice president now directly owns 27,904 shares of the company’s stock, valued at $3,455,910.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,326 shares of company stock valued at $8,323,999. 0.16% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on WM. Royal Bank of Canada reissued a “neutral” rating on shares of Waste Management in a research note on Sunday, November 15th. BMO Capital Markets increased their price target on Waste Management from $111.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. downgraded Waste Management from a “neutral” rating to an “underweight” rating and set a $99.00 price objective for the company. in a report on Wednesday, September 23rd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft upped their price objective on Waste Management from $111.00 to $119.00 and gave the stock a “hold” rating in a report on Wednesday, November 4th. Finally, CIBC upped their price objective on Waste Management from $117.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, November 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Waste Management currently has an average rating of “Hold” and an average price target of $116.47.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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