Trustmark National Bank Trust Department Buys 60 Shares of Waste Management, Inc. (NYSE:WM)

Trustmark National Bank Trust Department boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.4% in the first quarter, Holdings Channel reports. The institutional investor owned 1,802 shares of the business services provider’s stock after purchasing an additional 60 shares during the period. Trustmark National Bank Trust Department’s holdings in Waste Management were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Norges Bank bought a new position in Waste Management during the 4th quarter valued at approximately $784,486,000. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management in the 1st quarter worth $300,594,000. Mirova US LLC lifted its position in Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after purchasing an additional 910,418 shares in the last quarter. Capital World Investors lifted its position in Waste Management by 40.6% during the fourth quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock valued at $523,581,000 after purchasing an additional 844,298 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Waste Management during the first quarter valued at approximately $117,299,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 1.7 %

Shares of WM stock traded down $3.75 during trading on Tuesday, hitting $219.70. 918,244 shares of the stock traded hands, compared to its average volume of 1,686,730. The firm has a market capitalization of $88.12 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The firm’s fifty day moving average price is $209.68 and its 200-day moving average price is $204.19.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.31 earnings per share. As a group, research analysts forecast that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, June 7th. Waste Management’s payout ratio is 49.10%.

Analysts Set New Price Targets

WM has been the topic of a number of analyst reports. Raymond James upped their target price on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Morgan Stanley upped their target price on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Truist Financial cut their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Robert W. Baird increased their price objective on Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Finally, Stifel Nicolaus increased their price objective on Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.39.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.