Pitcairn Co. Boosts Stock Position in Waste Management, Inc. (NYSE:WM)

Pitcairn Co. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.8% in the 1st quarter, HoldingsChannel reports. The firm owned 2,796 shares of the business services provider’s stock after acquiring an additional 177 shares during the quarter. Pitcairn Co.’s holdings in Waste Management were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in 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 purchasing an additional 75 shares during the last quarter. Sachetta LLC purchased a new position in shares of Waste Management during the 4th quarter valued at $27,000. Gilfoyle & Co LLC bought a new position in shares of Waste Management during the 4th quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management in the 1st quarter worth about $35,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Waste Management in the 4th quarter valued at about $36,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Down 7.9 %

Shares of WM opened at $200.20 on Friday. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The company has a market capitalization of $80.30 billion, a P/E ratio of 32.77, a P/E/G ratio of 2.52 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $209.78 and its 200 day simple moving average is $204.54.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 40.19%. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WM shares. TD Cowen lifted their target price on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Truist Financial lowered their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Robert W. Baird cut their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday. Raymond James boosted their price objective on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Morgan Stanley raised their target price on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $217.06.

Insider Transactions at Waste Management

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 value of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The disclosure for this sale can be found here. Company 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.