Coastline Trust Co Has $4.42 Million Stock Position in Waste Management, Inc. $WM

Coastline Trust Co cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,134 shares of the business services provider’s stock after selling 2,817 shares during the period. Coastline Trust Co’s holdings in Waste Management were worth $4,424,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Waste Management during the second quarter worth approximately $1,064,206,000. Vontobel Holding Ltd. grew its holdings in Waste Management by 444.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock valued at $487,157,000 after buying an additional 1,800,728 shares in the last quarter. Capital International Investors increased its position in Waste Management by 218.3% during the 3rd quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock worth $302,494,000 after buying an additional 939,455 shares during the period. Holocene Advisors LP increased its position in Waste Management by 163.7% during the 3rd quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock worth $309,317,000 after buying an additional 869,453 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Waste Management by 982.3% during the third quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock worth $195,692,000 after buying an additional 804,285 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 30th. The Goldman Sachs Group began coverage on shares of Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective for the company. Oppenheimer increased their target price on shares of Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Royal Bank Of Canada raised their target price on shares of Waste Management from $223.00 to $235.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Finally, DZ Bank initiated coverage on Waste Management in a research note on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.59.

Waste Management Stock Up 0.0%

WM stock opened at $233.89 on Friday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The business has a 50-day simple moving average of $231.18 and a 200 day simple moving average of $220.66. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market cap of $94.34 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.47 and a beta of 0.57.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. Waste Management’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, March 13th. Waste Management’s payout ratio is 56.42%.

Insider Buying and Selling at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 7,352 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $234.50, for a total transaction of $1,724,044.00. Following the completion of the sale, the senior vice president directly owned 15,540 shares in the company, valued at $3,644,130. This represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John J. Morris sold 7,979 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $245.07, for a total value of $1,955,413.53. Following the completion of the sale, the chief operating officer directly owned 98,656 shares in the company, valued at approximately $24,177,625.92. This represents a 7.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 98,042 shares of company stock valued at $23,039,777. 0.18% of the stock is currently owned by insiders.

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.