OLD National Bancorp IN Purchases 862 Shares of Waste Management, Inc. (NYSE:WM)

OLD National Bancorp IN lifted its position in Waste Management, Inc. (NYSE:WM) by 11.1% during the 1st quarter, HoldingsChannel reports. The firm owned 8,601 shares of the business services provider’s stock after buying an additional 862 shares during the period. OLD National Bancorp IN’s holdings in Waste Management were worth $1,991,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WM. Transce3nd LLC purchased a new position in Waste Management in the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Waste Management in the fourth quarter worth $33,000. Hurley Capital LLC purchased a new position in Waste Management in the fourth quarter worth $34,000. Pineridge Advisors LLC purchased a new position in Waste Management in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC purchased a new position in Waste Management in the fourth quarter worth $36,000. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president now directly owns 16,542 shares of the company’s stock, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on WM. Scotiabank upped their target price on shares of Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 8th. Citigroup upped their price target on shares of Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. UBS Group upped their price target on shares of Waste Management from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upgraded shares of Waste Management from a “neutral” rating to an “overweight” rating and upped their price target for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Finally, Hsbc Global Res upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $247.06.

Waste Management Stock Performance

Waste Management stock opened at $236.33 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The firm has a 50-day moving average of $231.31 and a 200-day moving average of $223.48. The firm has a market cap of $95.10 billion, a P/E ratio of 34.75, a P/E/G ratio of 2.71 and a beta of 0.66. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. Waste Management’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, June 6th. Waste Management’s payout ratio is currently 49.77%.

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.