Burke & Herbert Bank & Trust Co. Lowers Stock Holdings in Waste Management, Inc. (NYSE:WM)

Burke & Herbert Bank & Trust Co. trimmed its position in Waste Management, Inc. (NYSE:WM) by 18.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,910 shares of the business services provider’s stock after selling 881 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in Waste Management were worth $678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pasadena Private Wealth LLC purchased a new stake in shares of Waste Management during the 2nd quarter valued at $359,000. Capital Advisors Wealth Management LLC purchased a new position in shares of Waste Management during the second quarter worth approximately $256,000. LifePro Asset Management purchased a new position in shares of Waste Management during the second quarter worth approximately $218,000. Canton Hathaway LLC raised its stake in shares of Waste Management by 39.9% during the second quarter. Canton Hathaway LLC now owns 10,238 shares of the business services provider’s stock worth $1,775,000 after acquiring an additional 2,920 shares in the last quarter. Finally, New Hampshire Trust raised its stake in shares of Waste Management by 3.1% during the second quarter. New Hampshire Trust now owns 2,099 shares of the business services provider’s stock worth $364,000 after acquiring an additional 63 shares in the last quarter. 78.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Bruce E. Chinn sold 172 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total transaction of $27,423.68. Following the transaction, the director now owns 822 shares in the company, valued at $131,059.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Bruce E. Chinn sold 172 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value of $27,423.68. Following the transaction, the director now directly owns 822 shares in the company, valued at approximately $131,059.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John C. Pope sold 198 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $168.40, for a total transaction of $33,343.20. Following the sale, the director now directly owns 56,147 shares of the company’s stock, valued at $9,455,154.80. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on WM. Raymond James decreased their price target on shares of Waste Management from $185.00 to $179.00 and set an “outperform” rating on the stock in a research note on Thursday, July 27th. Citigroup dropped their target price on Waste Management from $204.00 to $202.00 in a report on Thursday, July 27th. HSBC began coverage on shares of Waste Management in a research report on Friday. They issued a “buy” rating and a $192.00 price objective on the stock. StockNews.com began coverage on shares of Waste Management in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets dropped their price target on Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.25.

Waste Management Stock Up 0.1 %

NYSE WM traded up $0.14 during trading hours on Monday, reaching $160.62. 441,066 shares of the company’s stock traded hands, compared to its average volume of 1,588,331. Waste Management, Inc. has a 52-week low of $148.31 and a 52-week high of $173.71. The firm has a market cap of $65.06 billion, a PE ratio of 28.86, a PEG ratio of 2.72 and a beta of 0.72. The firm has a 50-day simple moving average of $161.99 and a 200 day simple moving average of $162.47. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.82 and a quick ratio of 0.78.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, July 25th. The business services provider reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). Waste Management had a return on equity of 33.81% and a net margin of 11.42%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same period in the prior year, the company posted $1.44 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 5.96 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.70 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.80 dividend on an annualized basis and a yield of 1.74%. Waste Management’s payout ratio is currently 50.36%.

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.