SeaCrest Wealth Management LLC Sells 2,453 Shares of Waste Management, Inc. (NYSE:WM)

SeaCrest Wealth Management LLC trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,791 shares of the business services provider’s stock after selling 2,453 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Waste Management were worth $2,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Indiana Trust & Investment Management CO purchased a new stake in shares of Waste Management in the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 1st quarter worth about $29,000. KB Financial Partners LLC purchased a new stake in Waste Management during the 1st quarter valued at about $33,000. State of Wyoming bought a new stake in Waste Management during the 4th quarter valued at about $34,000. Finally, Millburn Ridgefield Corp bought a new position in shares of Waste Management in the third quarter worth approximately $35,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM traded down $0.82 during mid-day trading on Friday, hitting $213.15. 2,699,109 shares of the company traded hands, compared to its average volume of 1,476,426. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 2.30. The stock’s fifty day moving average price is $200.06 and its 200-day moving average price is $179.12. The firm has a market cap of $85.60 billion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.72. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54.

Waste Management (NYSE:WM) last released its earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.21. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.19 billion. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. During the same period in the prior year, the firm posted $1.30 EPS. Research analysts anticipate that Waste Management, Inc. will post 6.88 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Thursday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio is presently 53.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WM. Truist Financial boosted their price objective on shares of Waste Management from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 16th. JPMorgan Chase & Co. boosted their target price on Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Royal Bank of Canada lifted their price target on shares of Waste Management from $163.00 to $189.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Finally, Erste Group Bank upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $201.47.

Insider Buying and Selling at Waste Management

In related news, SVP Tara J. Hemmer sold 1,782 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $204.23, for a total transaction of $363,937.86. Following the completion of the sale, the senior vice president now owns 55,591 shares in the company, valued at $11,353,349.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Charles C. Boettcher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the completion of the transaction, the executive vice president now owns 29,677 shares in the company, valued at $6,217,331.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Tara J. Hemmer sold 1,782 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total value of $363,937.86. Following the transaction, the senior vice president now directly owns 55,591 shares of the company’s stock, valued at $11,353,349.93. The disclosure for this sale can be found here. Insiders have sold a total of 30,242 shares of company stock valued at $5,929,355 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

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.