Parkside Financial Bank & Trust Decreases Stake in Waste Management, Inc. (NYSE: WM)

Parkside Financial Bank & Trust reduced its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,994 shares of the business services provider’s stock after selling 60 shares during the period. Parkside Financial Bank & Trust’s holdings in Waste Management were worth $425,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Waste Management during the fourth quarter valued at about $784,486,000. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management in the 1st quarter worth approximately $300,594,000. Capital World Investors grew its position in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares during the period. Swedbank AB purchased a new position in Waste Management in the first quarter valued at approximately $193,955,000. Finally, AMF Tjanstepension AB raised its position in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after acquiring an additional 720,358 shares during the period. 80.40% of the shares are held by hedge funds and other institutional investors.

Indoor activity

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Corporate insiders own 0.18% of the company’s shares.

Analyst upgrades and downgrades

WM has been the subject of a number of analyst research reports. Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada decreased their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. BMO Capital Markets cut their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Truist Financial cut their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, 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 research report on Friday, July 26th . Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Moderate Buy” and an average price target of $215.83, according to MarketBeat .

View the latest Waste Management Inventory Report

The price performance of waste management

Shares of WM stock opened at $204.74 on Friday. The stock has a market cap of $82.12 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.34 and a beta of 0.74. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07, and a debt-to-equity ratio of 2.21. The company has a 50-day moving average price of $209.43 and a 200-day moving average price of $208.68.

Waste Management (NYSE:WM – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $1.51 EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste management announces dividends

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.75 dividend. This represents an annualized dividend of $3.00 and a dividend yield of 1.47%. The ex-dividend date is Friday, September 13. Waste Management’s payout ratio is currently 49.10%.

Waste Management Company Profile

(Free report)

Waste Management, Inc., through its subsidiaries, is engaged in providing environmental solutions to residential, commercial, industrial and municipal customers in the United States and Canada. Provides collection services, including the pickup and transportation of waste and recyclables from where they were 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 landfills that produce landfill gas used as renewable natural gas for electricity generation.

Read more

Want to see what other hedge funds own WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Waste Management, Inc. (NYSE:WM – Free Report).

Receive daily waste management news and reviews – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Waste Management and related companies with MarketBeat.com ‘s FREE daily email newsletter.