Bank of New York Mellon Corp Sells 380,888 Shares of Waste Management, Inc. $WM

Bank of New York Mellon Corp reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 15.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,148,979 shares of the business services provider’s stock after selling 380,888 shares during the quarter. Bank of New York Mellon Corp’s holdings in Waste Management were worth $472,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Broadway Wealth Solutions Inc. boosted its holdings in Waste Management by 2.8% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 44 shares during the period. San Luis Wealth Advisors LLC boosted its holdings in Waste Management by 2.4% in the 4th quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider’s stock valued at $422,000 after purchasing an additional 45 shares during the period. Birch Hill Investment Advisors LLC boosted its holdings in Waste Management by 0.7% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock valued at $1,341,000 after purchasing an additional 45 shares during the period. Cassaday & Co Wealth Management LLC boosted its holdings in Waste Management by 1.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 45 shares during the period. Finally, Old Port Advisors boosted its holdings in Waste Management by 0.3% in the 4th quarter. Old Port Advisors now owns 16,963 shares of the business services provider’s stock valued at $3,727,000 after purchasing an additional 46 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Activity

In other Waste Management news, SVP Johnson Varkey sold 121 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO John J. Morris sold 4,211 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the completion of the sale, the chief operating officer owned 99,929 shares of the company’s stock, valued at $24,320,720.02. The trade was a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,494 shares of company stock valued at $3,054,863 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Waste Management Trading Up 2.9%

Shares of Waste Management stock opened at $217.98 on Thursday. The stock has a market capitalization of $87.54 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.22 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The company has a 50-day simple moving average of $223.81 and a 200 day simple moving average of $224.42. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. Research analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is presently 54.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WM. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. TD Cowen increased their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company dropped their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Robert W. Baird increased their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Barclays increased their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.67.

Waste Management 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.