Confluence Wealth Services Inc. Sells 1,516 Shares of Waste Management, Inc. (NYSE:WM)

Confluence Wealth Services Inc. lessened its position in Waste Management, Inc. (NYSE:WM) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,407 shares of the business services provider’s stock after selling 1,516 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Waste Management were worth $2,186,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management grew its position in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. purchased a new stake in Waste Management in the fourth quarter worth about $29,000. Sugar Maple Asset Management LLC bought a new position in shares of Waste Management during the fourth quarter valued at approximately $35,000. Finally, Richardson Financial Services Inc. boosted its position in shares of Waste Management by 65.7% in the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WM shares. Argus lifted their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lowered their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Oppenheimer increased their price objective on shares of Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $234.50.

Insider Buying and Selling

In other news, CFO Devina A. Rankin sold 5,826 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,294,071.12. Following the transaction, the chief financial officer now directly owns 69,442 shares in the company, valued at $15,424,457.04. The trade was a 7.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO John A. Carroll sold 209 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the sale, the chief accounting officer now owns 9,066 shares of the company’s stock, valued at $1,999,506.30. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,055 shares of company stock valued at $2,674,780. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of NYSE:WM opened at $222.33 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $89.23 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. The firm’s 50 day moving average price is $212.05 and its 200-day moving average price is $211.24. Waste Management, Inc. has a twelve month low of $187.20 and a twelve month high of $230.39.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Equities research analysts expect that Waste Management, Inc. will post 7.92 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. Waste Management’s payout ratio is currently 44.12%.

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.