Ingalls & Snyder LLC Sells 340 Shares of Waste Management, Inc. (NYSE:WM)

Ingalls & Snyder LLC cut its position in Waste Management, Inc. (NYSE:WM) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,611 shares of the business services provider’s stock after selling 340 shares during the quarter. Ingalls & Snyder LLC’s holdings in Waste Management were worth $4,184,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Certuity LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $267,000. Brighton Jones LLC lifted its holdings in Waste Management by 3.4% during the 4th quarter. Brighton Jones LLC now owns 5,683 shares of the business services provider’s stock valued at $1,018,000 after purchasing an additional 188 shares during the last quarter. Cannell & Co. boosted its position in Waste Management by 179.0% during the fourth quarter. Cannell & Co. now owns 4,045 shares of the business services provider’s stock worth $724,000 after purchasing an additional 2,595 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Waste Management by 1.3% in the fourth quarter. Victory Capital Management Inc. now owns 234,770 shares of the business services provider’s stock valued at $42,047,000 after purchasing an additional 2,962 shares during the last quarter. Finally, Summit Financial LLC raised its position in shares of Waste Management by 4.7% in the fourth quarter. Summit Financial LLC now owns 2,388 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 108 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Waste Management Price Performance

Shares of NYSE:WM opened at $212.04 on Friday. The firm has a 50 day moving average of $209.81 and a 200-day moving average of $208.45. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $85.10 billion, a PE ratio of 34.70, a PEG ratio of 2.37 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 earnings per share. On average, equities research analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s dividend payout ratio is currently 49.10%.

Analyst Upgrades and Downgrades

Several analysts recently commented on WM shares. BMO Capital Markets reduced their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Royal Bank of Canada reduced their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. CIBC lowered their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Finally, Oppenheimer decreased their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

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.