Synovus Financial Corp Sells 2,051 Shares of Waste Management, Inc. (NYSE:WM)

Synovus Financial Corp lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,097 shares of the business services provider’s stock after selling 2,051 shares during the quarter. Synovus Financial Corp’s holdings in Waste Management were worth $17,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Wulff Hansen & CO. grew its position in Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after buying an additional 863,846 shares during the period. Swedbank AB increased its holdings in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after buying an additional 709,678 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Waste Management by 248.5% in the second quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider’s stock valued at $210,092,000 after acquiring an additional 702,188 shares during the last quarter. Finally, Parnassus Investments LLC grew its position in shares of Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after acquiring an additional 520,096 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Down 0.0 %

Shares of NYSE:WM opened at $214.47 on Friday. The stock has a market capitalization of $86.08 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 2.26 and a beta of 0.75. Waste Management, Inc. has a 12-month low of $173.01 and a 12-month high of $230.39. The stock’s 50-day moving average price is $217.55 and its 200-day moving average price is $211.37. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating 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 company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $1.63 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Wall Street Analyst Weigh In

WM has been the topic of several research analyst reports. William Blair began coverage on Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC lifted their price objective on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

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.