Independence Bank of Kentucky Acquires 873 Shares of Waste Management, Inc. (NYSE:WM)

Independence Bank of Kentucky boosted its holdings in Waste Management, Inc. (NYSE:WM) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,208 shares of the business services provider’s stock after purchasing an additional 873 shares during the period. Independence Bank of Kentucky’s holdings in Waste Management were worth $1,536,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WM. Sachetta LLC purchased a new position in shares of Waste Management in the fourth quarter worth about $27,000. Gilfoyle & Co LLC purchased a new position in shares of Waste Management during the 4th quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management in the first quarter worth $35,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Waste Management during the fourth quarter valued at $36,000. Finally, DSM Capital Partners LLC purchased a new position in Waste Management during the fourth quarter worth about $38,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.3 %

WM traded up $0.67 during midday trading on Friday, reaching $213.34. The company’s stock had a trading volume of 2,908,229 shares, compared to its average volume of 1,972,412. The stock’s 50-day moving average is $208.06 and its 200-day moving average is $199.69. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54. The firm has a market capitalization of $85.57 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.47 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts expect that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WM shares. TD Cowen upped their price objective on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. CIBC lifted their price target on Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Royal Bank of Canada increased their price objective on Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Raymond James raised their price objective on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Truist Financial lifted their price target on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred 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 in the company, valued at $9,324,156.32. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

Waste Management Profile

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.