Waste Management, Inc. $WM Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 27.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,968 shares of the business services provider’s stock after purchasing an additional 3,849 shares during the quarter. Independence Bank of Kentucky’s holdings in Waste Management were worth $3,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. purchased a new position in Waste Management during the first quarter worth approximately $325,000. American Century Companies Inc. boosted its stake in Waste Management by 17.3% during the first quarter. American Century Companies Inc. now owns 85,184 shares of the business services provider’s stock worth $19,721,000 after buying an additional 12,585 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Waste Management by 1.2% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 13,637 shares of the business services provider’s stock worth $3,155,000 after acquiring an additional 167 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Waste Management by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,117,912 shares of the business services provider’s stock worth $258,809,000 after acquiring an additional 103,952 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.8%

Shares of NYSE:WM opened at $216.54 on Friday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The firm has a market capitalization of $87.24 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 2.69 and a beta of 0.58. The firm’s 50-day moving average is $211.26 and its two-hundred day moving average is $221.23. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.Waste Management’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 earnings per share. Analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, December 5th. Waste Management’s dividend payout ratio is presently 51.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WM shares. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Stifel Nicolaus lowered their price objective on Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Truist Financial set a $260.00 target price on Waste Management in a research report on Wednesday, October 29th. National Bankshares reduced their price objective on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Finally, Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $248.95.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.