New Covenant Trust Company N.A. Acquires New Shares in Waste Management, Inc. (NYSE:WM)

New Covenant Trust Company N.A. purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,083 shares of the business services provider’s stock, valued at approximately $231,000.

Several other hedge funds also recently bought and sold shares of WM. McClarren Financial Advisors Inc. grew its position in Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after acquiring an additional 49 shares in the last quarter. Mayflower Financial Advisors LLC lifted its position in Waste Management by 1.2% in the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after buying an additional 50 shares during the last quarter. McAdam LLC boosted its stake in Waste Management by 4.0% during the first quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock worth $281,000 after buying an additional 51 shares during the period. Larson Financial Group LLC raised its stake in shares of Waste Management by 4.4% in the first quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 52 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Waste Management by 2.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock worth $438,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

WM has been the topic of a number of recent analyst reports. CIBC reduced their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Truist Financial dropped their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Oppenheimer reduced their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada decreased their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Finally, Stifel Nicolaus upped their target price on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $215.83.

Waste Management Stock Up 1.6 %

Shares of NYSE WM traded up $3.32 during mid-day trading on Thursday, reaching $205.98. 1,622,078 shares of the company were exchanged, compared to its average volume of 1,707,972. The firm has a 50-day moving average of $209.06 and a 200 day moving average of $205.31. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a market cap of $82.66 billion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 2.25 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 EPS. On average, research analysts expect that Waste Management, Inc. will post 7.25 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated Thursday, June 6th. The stock was 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 of the company’s stock, valued at $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

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.