First National Bank of Omaha Lowers Stock Holdings in Waste Management, Inc. (NYSE:WM)

First National Bank of Omaha cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 8.6% during the third quarter, Holdings Channel reports. The firm owned 22,148 shares of the business services provider’s stock after selling 2,084 shares during the quarter. First National Bank of Omaha’s holdings in Waste Management were worth $4,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aberdeen Wealth Management LLC grew its holdings in shares of Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after buying an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its position in Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after acquiring an additional 46 shares during the period. ARS Wealth Advisors Group LLC grew its stake in shares of Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its holdings in shares of Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares during the period. Finally, Balboa Wealth Partners lifted its holdings in shares of Waste Management by 4.1% during the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

WM has been the subject of a number of analyst reports. William Blair assumed coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. UBS Group increased their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. CIBC increased their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Truist Financial lifted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $229.33.

Waste Management Price Performance

Shares of NYSE WM opened at $222.19 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock has a market cap of $89.18 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.38 and a beta of 0.75. The company’s 50-day moving average price is $216.94 and its 200 day moving average price is $211.21. Waste Management, Inc. has a 52 week low of $171.15 and a 52 week high of $230.39.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $1.63 EPS. The company’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.35%. Waste Management’s dividend payout ratio is currently 45.87%.

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.