Piscataqua Savings Bank Boosts Stock Position in Waste Management, Inc. (NYSE:WM)

Piscataqua Savings Bank boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 40.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,069 shares of the business services provider’s stock after buying an additional 1,756 shares during the period. Piscataqua Savings Bank’s holdings in Waste Management were worth $1,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Simmons Bank increased its stake in Waste Management by 12.5% during the first quarter. Simmons Bank now owns 2,695 shares of the business services provider’s stock worth $440,000 after acquiring an additional 300 shares during the last quarter. TimeScale Financial Inc. acquired a new position in Waste Management in the first quarter valued at about $49,000. Caliber Wealth Management LLC increased its position in shares of Waste Management by 26.2% during the first quarter. Caliber Wealth Management LLC now owns 9,314 shares of the business services provider’s stock valued at $1,520,000 after acquiring an additional 1,931 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Waste Management by 195.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 12,891 shares of the business services provider’s stock valued at $2,103,000 after acquiring an additional 8,521 shares during the period. Finally, Argent Trust Co boosted its position in shares of Waste Management by 18.5% during the 1st quarter. Argent Trust Co now owns 15,258 shares of the business services provider’s stock worth $2,490,000 after purchasing an additional 2,378 shares during the period. 78.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John C. Pope sold 198 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Bruce E. Chinn sold 172 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total value of $27,423.68. Following the sale, the director now directly owns 822 shares in the company, valued at approximately $131,059.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Pope sold 198 shares of the 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 completion of the sale, the director now owns 56,147 shares in the company, valued at $9,455,154.80. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of a number of research reports. StockNews.com began coverage on Waste Management in a research note on Thursday, August 17th. They set a “buy” rating on the stock. HSBC initiated coverage on shares of Waste Management in a research note on Friday. They set a “buy” rating and a $192.00 price target on the stock. BMO Capital Markets cut their target price on shares of Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. Citigroup dropped their price target on shares of Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. Finally, Raymond James decreased their target price on Waste Management from $185.00 to $179.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.25.

Waste Management Stock Performance

NYSE WM opened at $159.82 on Tuesday. The company has a fifty day moving average of $161.99 and a two-hundred day 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, Inc. has a 1 year low of $148.31 and a 1 year high of $173.71. The company has a market capitalization of $64.74 billion, a PE ratio of 28.74, a P/E/G ratio of 2.72 and a beta of 0.72.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (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 business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter last year, the business posted $1.44 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that Waste Management, Inc. will post 5.96 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.80 annualized dividend and a yield of 1.75%. Waste Management’s dividend payout ratio is currently 50.36%.

About Waste Management

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.