Hemenway Trust Co LLC Sells 4,500 Shares of Waste Management, Inc. (NYSE:WM)

Hemenway Trust Co LLC decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,866 shares of the business services provider’s stock after selling 4,500 shares during the period. Hemenway Trust Co LLC’s holdings in Waste Management were worth $12,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC increased its holdings in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC acquired a new stake in shares of Waste Management during the fourth quarter worth approximately $27,000. Gilfoyle & Co LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management in the first quarter valued at approximately $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $36,000. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Jefferies Financial Group raised their price target on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a report on Monday, March 18th. 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. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Finally, 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. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.33.

Waste Management Stock Up 0.3 %

NYSE WM traded up $0.60 during trading hours on Thursday, hitting $211.78. 1,161,347 shares of the company traded hands, compared to its average volume of 1,707,479. The business’s 50-day moving average is $208.25 and its 200-day moving average is $201.79. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market capitalization of $84.94 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 2.45 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.42%. Waste Management’s dividend payout ratio is 49.10%.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.