First Financial Corp IN Cuts Stock Holdings in Waste Management, Inc. (NYSE:WM)

First Financial Corp IN reduced its holdings in Waste Management, Inc. (NYSE:WM) by 31.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,294 shares of the business services provider’s stock after selling 597 shares during the period. First Financial Corp IN’s holdings in Waste Management were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WM. Retirement Planning Group LLC bought a new stake in Waste Management during the 1st quarter valued at about $235,000. Dynamic Advisor Solutions LLC grew its position in shares of Waste Management by 8.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 18,810 shares of the business services provider’s stock worth $4,009,000 after buying an additional 1,399 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Waste Management in the 1st quarter worth approximately $144,000. Annex Advisory Services LLC grew its position in shares of Waste Management by 50.0% in the 1st quarter. Annex Advisory Services LLC now owns 2,043 shares of the business services provider’s stock worth $436,000 after buying an additional 681 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Waste Management in the 1st quarter worth approximately $117,299,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Down 0.2 %

WM stock traded down $0.38 during mid-day trading on Tuesday, hitting $212.06. 1,714,345 shares of the company were exchanged, compared to its average volume of 1,719,933. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $85.05 billion, a P/E ratio of 34.76, a PEG ratio of 2.43 and a beta of 0.74. The business has a fifty day simple moving average of $207.51 and a 200-day simple moving average of $198.95. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. Waste Management’s dividend payout ratio is currently 49.10%.

Wall Street Analysts Forecast Growth

WM has been the topic of several research analyst reports. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Morgan Stanley upped their price objective on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Truist Financial boosted their target price on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group boosted their target price on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $217.61.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

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.