Coastline Trust Co Increases Stock Position in Waste Management, Inc. (NYSE:WM)

Coastline Trust Co grew its position in shares of Waste Management, Inc. (NYSE:WM) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,535 shares of the business services provider’s stock after acquiring an additional 478 shares during the period. Coastline Trust Co’s holdings in Waste Management were worth $4,471,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Twin Tree Management LP bought a new stake in shares of Waste Management during the 1st quarter valued at about $2,963,000. Nwam LLC raised its position in shares of Waste Management by 11.5% in the 1st quarter. Nwam LLC now owns 3,413 shares of the business services provider’s stock worth $720,000 after acquiring an additional 352 shares in the last quarter. First Foundation Advisors lifted its stake in shares of Waste Management by 13.6% in the 1st quarter. First Foundation Advisors now owns 3,504 shares of the business services provider’s stock valued at $747,000 after purchasing an additional 419 shares during the period. TIAA Trust National Association boosted its position in shares of Waste Management by 5.2% during the first quarter. TIAA Trust National Association now owns 19,675 shares of the business services provider’s stock valued at $4,194,000 after purchasing an additional 966 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Waste Management by 235.3% in the first quarter. Acadian Asset Management LLC now owns 353,526 shares of the business services provider’s stock worth $75,341,000 after purchasing an additional 248,085 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Royal Bank of Canada boosted their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.11.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Down 1.7 %

Waste Management stock opened at $217.89 on Friday. Waste Management, Inc. has a one year low of $168.73 and a one year high of $226.84. The stock has a fifty day moving average of $211.61 and a 200 day moving average of $209.67. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market cap of $87.45 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74.

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

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

About Waste Management

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.