OLD National Bancorp IN Boosts Position in Waste Management, Inc. (NYSE:WM)

OLD National Bancorp IN grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,829 shares of the business services provider’s stock after buying an additional 102 shares during the period. OLD National Bancorp IN’s holdings in Waste Management were worth $1,044,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in WM. Gilfoyle & Co LLC purchased a new position in shares of Waste Management during the fourth quarter valued at approximately $30,000. Millburn Ridgefield Corp bought a new stake in shares of Waste Management during the third quarter valued at approximately $35,000. Spirit of America Management Corp NY boosted its position in shares of Waste Management by 66.7% during the third quarter. Spirit of America Management Corp NY now owns 250 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. Rational Advisors LLC bought a new stake in shares of Waste Management during the third quarter valued at approximately $41,000. Finally, Annapolis Financial Services LLC boosted its position in shares of Waste Management by 40.1% during the third quarter. Annapolis Financial Services LLC now owns 325 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 93 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WM has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer boosted their target price on Waste Management from $188.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Truist Financial boosted their target price on Waste Management from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. Finally, Jefferies Financial Group boosted their target price on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.85.

Insider Activity at Waste Management

In related news, SVP Christopher P. Desantis sold 346 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $199.64, for a total transaction of $69,075.44. Following the completion of the transaction, the senior vice president now directly owns 8,218 shares of the company’s stock, valued at $1,640,641.52. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Charles C. Boettcher sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher P. Desantis sold 346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $199.64, for a total value of $69,075.44. Following the completion of the sale, the senior vice president now directly owns 8,218 shares of the company’s stock, valued at $1,640,641.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,007 shares of company stock valued at $3,696,520. Insiders own 0.18% of the company’s stock.

Waste Management Stock Up 0.6 %

Waste Management stock opened at $208.77 on Wednesday. The stock has a market cap of $83.78 billion, a PE ratio of 36.89, a price-to-earnings-growth 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, Inc. has a one year low of $149.71 and a one year high of $214.54. The stock has a fifty day moving average of $207.88 and a 200 day moving average of $186.15.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, February 12th. The business services provider reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.21. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Waste Management had a return on equity of 36.51% and a net margin of 11.28%. During the same quarter in the prior year, the business posted $1.30 earnings per share. As a group, sell-side analysts predict that Waste Management, Inc. will post 6.88 EPS for the current 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 paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio is presently 53.00%.

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.