SVB Wealth LLC Sells 2,787 Shares of Waste Management, Inc. $WM

SVB Wealth LLC reduced its position in Waste Management, Inc. (NYSE:WM) by 15.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 15,504 shares of the business services provider’s stock after selling 2,787 shares during the period. SVB Wealth LLC’s holdings in Waste Management were worth $3,456,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WM. Brighton Jones LLC lifted its holdings in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Sprott Inc. bought a new position in Waste Management in the first quarter valued at approximately $325,000. Sei Investments Co. grew its holdings in Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after acquiring an additional 20,122 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Waste Management by 68.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after acquiring an additional 148,590 shares during the last quarter. Finally, Glenview Trust co lifted its stake in shares of Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock valued at $764,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling

In other Waste Management news, CAO John Carroll sold 1,365 shares of Waste Management stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the transaction, the chief accounting officer owned 3,509 shares of the company’s stock, valued at approximately $771,629.10. The trade was a 28.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

WM stock opened at $217.76 on Wednesday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The firm has a market cap of $87.04 billion, a PE ratio of 30.84, a P/E/G ratio of 2.76 and a beta of 0.42. The business’s 50-day moving average price is $228.29 and its two-hundred day moving average price is $226.90.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 earnings per share. As a group, research analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. Waste Management’s dividend payout ratio is presently 53.54%.

Analyst Ratings Changes

Several research analysts have recently issued reports on WM shares. Scotiabank raised their price target on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Oppenheimer cut their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. Canadian Imperial Bank of Commerce cut Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. UBS Group boosted their target price on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Citigroup increased their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Waste Management Company Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.