CNB Bank Cuts Stock Position in Waste Management, Inc. (NYSE:WM)

CNB Bank trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 31.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 419 shares of the business services provider’s stock after selling 191 shares during the period. CNB Bank’s holdings in Waste Management were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WM. American Century Companies Inc. lifted its position in shares of Waste Management by 24.2% during the second quarter. American Century Companies Inc. now owns 67,624 shares of the business services provider’s stock worth $14,427,000 after purchasing an additional 13,193 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Waste Management by 4.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,266 shares of the business services provider’s stock valued at $1,763,000 after purchasing an additional 358 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Waste Management by 9.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 55,212 shares of the business services provider’s stock valued at $11,779,000 after purchasing an additional 4,749 shares in the last quarter. Blair William & Co. IL raised its position in shares of Waste Management by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 60,003 shares of the business services provider’s stock valued at $12,801,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its stake in shares of Waste Management by 30.2% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,082 shares of the business services provider’s stock valued at $231,000 after buying an additional 251 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on WM. CIBC boosted their target price on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their target price on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Stifel Nicolaus raised their price target on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Stock Performance

Shares of Waste Management stock opened at $211.82 on Friday. The business has a fifty day simple moving average of $214.24 and a 200-day simple moving average of $211.23. The stock has a market cap of $85.02 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12 month low of $181.56 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

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.