FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $2.26 Million Stock Position in Waste Management, Inc. (NYSE:WM)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,885 shares of the business services provider’s stock after buying an additional 260 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Waste Management were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its stake in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the second quarter worth $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management in the 1st quarter valued at $35,000. Fairway Wealth LLC boosted its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Waste Management in the second quarter worth about $36,000. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the business’s 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 transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WM shares. Oppenheimer lowered their price objective 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. Robert W. Baird reduced their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. BMO Capital Markets lowered their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company 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 on the stock in a report on Friday, July 26th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Up 0.3 %

Shares of WM stock opened at $211.81 on Friday. The firm’s fifty day moving average price is $207.37 and its two-hundred day moving average price is $208.48. Waste Management, Inc. has a 1 year low of $153.95 and a 1 year high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $84.95 billion, a P/E ratio of 34.67, a PEG ratio of 2.37 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the company earned $1.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management’s payout ratio is 49.10%.

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.