Trustmark National Bank Trust Department Sells 845 Shares of Waste Management, Inc. (NYSE:WM)

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Trustmark National Bank Trust Department decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,024 shares of the business services provider’s stock after selling 845 shares during the period. Trustmark National Bank Trust Department’s holdings in Waste Management were worth $372,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Great Lakes Advisors LLC increased its holdings in Waste Management by 4.4% during the fourth quarter. Great Lakes Advisors LLC now owns 58,719 shares of the business services provider’s stock valued at $6,692,000 after buying an additional 2,497 shares during the last quarter. ProShare Advisors LLC increased its holdings in Waste Management by 16.8% during the fourth quarter. ProShare Advisors LLC now owns 87,504 shares of the business services provider’s stock valued at $9,972,000 after buying an additional 12,617 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Waste Management during the fourth quarter valued at approximately $484,000. Raymond James Financial Services Advisors Inc. increased its holdings in Waste Management by 9.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 244,047 shares of the business services provider’s stock valued at $27,814,000 after buying an additional 20,129 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Waste Management by 4.6% during the fourth quarter. Amalgamated Bank now owns 70,960 shares of the business services provider’s stock valued at $8,087,000 after buying an additional 3,124 shares during the last quarter. 73.54% of the stock is owned by institutional investors and hedge funds.

WM traded down $4.47 during trading on Thursday, hitting $104.86. 105,660 shares of the company traded hands, compared to its average volume of 2,685,938. The company has a market cap of $46.84 billion, a PE ratio of 27.68, a P/E/G ratio of 3.54 and a beta of 0.76. The stock’s 50-day simple moving average is $101.68 and its two-hundred day simple moving average is $109.36. Waste Management, Inc. has a 1 year low of $85.34 and a 1 year high of $126.79. The company has a current ratio of 1.84, a quick ratio of 1.80 and a debt-to-equity ratio of 1.94.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, May 6th. The business services provider reported $0.93 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.93. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.73 billion. Waste Management had a net margin of 10.87% and a return on equity of 27.69%. Waste Management’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $0.94 earnings per share. Equities analysts expect that Waste Management, Inc. will post 3.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a dividend of $0.545 per share. The ex-dividend date is Thursday, June 4th. This represents a $2.18 annualized dividend and a yield of 2.08%. Waste Management’s dividend payout ratio (DPR) is currently 49.55%.

A number of analysts have recently issued reports on the stock. Deutsche Bank reduced their price objective on shares of Waste Management from $132.00 to $104.00 and set a “hold” rating for the company in a research note on Monday, May 4th. BMO Capital Markets reduced their price objective on shares of Waste Management from $132.00 to $111.00 in a research note on Tuesday, March 31st. Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price objective on shares of Waste Management in a research note on Tuesday, June 2nd. Royal Bank of Canada cut shares of Waste Management from an “outperform” rating to a “sector perform” rating in a research note on Sunday, April 19th. Finally, Oppenheimer reduced their price objective on shares of Waste Management from $145.00 to $117.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $116.79.

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.

See Also: Net Income

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

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