Orrstown Financial Services Inc. Lowers Stake in Waste Management, Inc. (NYSE:WM)

Orrstown Financial Services Inc. reduced its holdings in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 37.0% in the first quarter, HoldingsChannel reports. The fund owned 3,117 shares of the business services provider’s stock after selling 1,828 shares during the period. Orrstown Financial Services Inc.’s holdings in Waste Management were worth $494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WM. Private Trust Co. NA increased its stake in Waste Management by 4.2% during the 1st quarter. Private Trust Co. NA now owns 7,774 shares of the business services provider’s stock valued at $1,232,000 after purchasing an additional 314 shares in the last quarter. Brookstone Capital Management increased its stake in Waste Management by 3.4% during the 1st quarter. Brookstone Capital Management now owns 37,194 shares of the business services provider’s stock valued at $6,106,000 after purchasing an additional 1,229 shares in the last quarter. Clarus Wealth Advisors bought a new stake in shares of Waste Management in the first quarter worth approximately $200,000. Fortune 45 LLC grew its stake in shares of Waste Management by 10.9% in the first quarter. Fortune 45 LLC now owns 2,223 shares of the business services provider’s stock worth $352,000 after acquiring an additional 219 shares during the period. Finally, Insight Wealth Strategies LLC grew its stake in shares of Waste Management by 14.1% in the first quarter. Insight Wealth Strategies LLC now owns 12,034 shares of the business services provider’s stock worth $1,907,000 after acquiring an additional 1,484 shares during the period. 80.37% of the stock is owned by institutional investors.

Shares of NYSE:WM opened at $143.99 on Wednesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.80 and a quick ratio of 0.76. Waste Management, Inc. has a 1-year low of $138.08 and a 1-year high of $170.18. The company has a market capitalization of $59.79 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.33 and a beta of 0.80. The firm’s 50 day simple moving average is $156.62 and its two-hundred day simple moving average is $155.59.

Waste Management (NYSE:WMGet Rating) last released its earnings results on Tuesday, April 26th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.12 by $0.17. Waste Management had a net margin of 10.32% and a return on equity of 29.67%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Management, Inc. will post 5.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Thursday, June 2nd. Waste Management’s payout ratio is 57.27%.

A number of brokerages have recently commented on WM. JPMorgan Chase & Co. began coverage on shares of Waste Management in a research note on Tuesday, March 1st. They issued a “neutral” rating and a $153.00 price target for the company. Morgan Stanley reduced their price target on shares of Waste Management from $165.00 to $160.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Waste Management from $157.00 to $167.00 in a research note on Thursday, April 28th. BMO Capital Markets lowered shares of Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 target price for the company. in a research report on Tuesday, April 12th. Finally, Raymond James boosted their target price on shares of Waste Management from $167.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Hold” and an average price target of $163.00.

In other Waste Management news, EVP John J. Morris sold 47,006 shares of the business’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $168.10, for a total transaction of $7,901,708.60. Following the transaction, the executive vice president now owns 95,461 shares in the company, valued at $16,046,994.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nikolaj H. Sjoqvist sold 10,311 shares of the company’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $166.57, for a total transaction of $1,717,503.27. Following the completion of the transaction, the senior vice president now owns 38,769 shares in the company, valued at $6,457,752.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,961 shares of company stock worth $14,651,682. 0.18% of the stock is owned by insiders.

Waste Management Company Profile (Get Rating)

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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