Ipswich Investment Management Co. Inc. Has $301,000 Stock Holdings in Waste Management, Inc. (NYSE:WM)

Ipswich Investment Management Co. Inc. decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 66.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,300 shares of the business services provider’s stock after selling 2,550 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Waste Management were worth $301,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. West Branch Capital LLC boosted its holdings in shares of Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after buying an additional 49 shares during the period. Transce3nd LLC bought a new stake in shares of Waste Management during the 4th quarter worth about $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Waste Management during the 4th quarter worth about $33,000. Hurley Capital LLC bought a new stake in shares of Waste Management during the 4th quarter worth about $34,000. Finally, Sierra Ocean LLC bought a new stake in shares of Waste Management during the 4th quarter worth about $36,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of Waste Management stock opened at $236.10 on Friday. The company has a 50 day moving average of $232.15 and a 200-day moving average of $223.83. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The company has a market cap of $95.01 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, beating the consensus estimate of $1.59 by $0.08. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.75 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, June 6th. Waste Management’s payout ratio is 49.77%.

Insider Activity at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president now directly owns 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer now owns 83,934 shares of the company’s stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on WM shares. Melius Research raised shares of Waste Management to a “strong-buy” rating and set a $263.00 target price for the company in a report on Monday, June 9th. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. CIBC boosted their price objective on shares of Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Seaport Res Ptn raised shares of Waste Management to a “hold” rating in a report on Tuesday, May 6th. Finally, Citigroup boosted their price objective on shares of Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $248.00.

About Waste Management

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.