Pinnacle Bancorp Inc. Has $348,000 Position in Waste Management, Inc. (NYSE:WM)

Pinnacle Bancorp Inc. reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,632 shares of the business services provider’s stock after selling 100 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Waste Management were worth $348,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sachetta LLC acquired a new position in shares of Waste Management in the 4th quarter valued at approximately $27,000. Opal Wealth Advisors LLC bought a new stake in Waste Management in the 1st quarter valued at approximately $35,000. Gilfoyle & Co LLC bought a new stake in Waste Management in the 4th quarter valued at approximately $30,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Waste Management in the 4th quarter valued at approximately $36,000. Finally, DSM Capital Partners LLC bought a new stake in Waste Management in the 4th quarter valued at approximately $38,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of WM stock traded up $0.67 on Friday, hitting $213.34. 2,687,298 shares of the company’s stock were exchanged, compared to its average volume of 1,731,060. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $214.54. The stock has a market cap of $85.57 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The company has a 50 day moving average of $208.06 and a 200 day moving average of $199.69.

Waste Management (NYSE:WM) last posted its earnings results 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. The firm had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. On average, equities research analysts predict that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on WM. Royal Bank of Canada upped their price objective on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Raymond James increased their price target on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Truist Financial increased their price target on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, TD Cowen increased their price target on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.61.

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.