SVB Wealth LLC Sells 2,444 Shares of Waste Management, Inc. $WM

SVB Wealth LLC lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 8.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 26,681 shares of the business services provider’s stock after selling 2,444 shares during the period. SVB Wealth LLC’s holdings in Waste Management were worth $6,105,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of WM. Brighton Jones LLC increased its position in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Sprott Inc. acquired a new stake in shares of Waste Management in the first quarter valued at approximately $325,000. New Age Alpha Advisors LLC bought a new position in Waste Management in the first quarter valued at $45,000. Citigroup Inc. increased its stake in Waste Management by 112.2% in the 1st quarter. Citigroup Inc. now owns 444,378 shares of the business services provider’s stock valued at $102,878,000 after buying an additional 234,976 shares during the last quarter. Finally, Cynosure Group LLC grew its holdings in shares of Waste Management by 6.2% in the 1st quarter. Cynosure Group LLC now owns 1,479 shares of the business services provider’s stock valued at $342,000 after acquiring an additional 86 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on WM shares. Barclays dropped their target price on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group assumed coverage on Waste Management in a research note on Monday, November 24th. They set a “buy” rating and a $256.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Sanford C. Bernstein assumed coverage on shares of Waste Management in a research report on Wednesday, November 12th. They set an “outperform” rating and a $255.00 price objective for the company. Finally, National Bankshares reduced their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $249.14.

Insider Activity

In related news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of NYSE:WM opened at $213.61 on Monday. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The company has a market cap of $86.06 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.64 and a beta of 0.58. The firm has a 50 day simple moving average of $212.08 and a 200 day simple moving average of $222.62.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the company posted $1.96 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is 51.97%.

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.