Adirondack Trust Co. trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,398 shares of the business services provider’s stock after selling 185 shares during the period. Waste Management accounts for about 1.0% of Adirondack Trust Co.’s investment portfolio, making the stock its 27th biggest holding. Adirondack Trust Co.’s holdings in Waste Management were worth $1,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WM. Krane Funds Advisors LLC bought a new stake in shares of Waste Management during the second quarter worth approximately $25,000. Financial Gravity Wealth Inc. increased its stake in Waste Management by 133.1% in the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. Personal Wealth Partners bought a new stake in Waste Management in the second quarter valued at approximately $35,000. Next Capital Management LLC increased its stake in Waste Management by 119.6% in the second quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 177 shares in the last quarter. Finally, Coastal Capital Group Inc. bought a new stake in Waste Management in the second quarter valued at approximately $39,000. 73.17% of the stock is owned by institutional investors and hedge funds.

In related news, Director Patrick W. Gross sold 289 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total transaction of $34,278.29. Following the completion of the transaction, the director now owns 53,378 shares in the company, valued at $6,331,164.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Charles C. Boettcher sold 589 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $115.95, for a total transaction of $68,294.55. Following the transaction, the senior vice president now owns 3,147 shares of the company’s stock, valued at approximately $364,894.65. The disclosure for this sale can be found here. Insiders sold 13,636 shares of company stock valued at $1,619,433 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Several equities research analysts have commented on the stock. ValuEngine downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Macquarie reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Waste Management in a research note on Wednesday, September 4th. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Stifel Nicolaus upped their target price on shares of Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Scotiabank assumed coverage on shares of Waste Management in a research note on Monday, July 22nd. They issued an “outperform” rating for the company. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $116.82.

Shares of Waste Management stock traded up $0.83 on Wednesday, hitting $115.60. The company had a trading volume of 1,204,639 shares, compared to its average volume of 1,747,115. The firm has a market capitalization of $48.70 billion, a P/E ratio of 27.52, a P/E/G ratio of 3.15 and a beta of 0.61. Waste Management, Inc. has a twelve month low of $83.22 and a twelve month high of $121.77. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66. The stock has a 50-day moving average of $116.10 and a 200-day moving average of $112.41.

Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Equities analysts predict that Waste Management, Inc. will post 4.33 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.512 dividend. This represents a $2.05 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, September 5th. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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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