Reynders McVeigh Capital Management LLC Has $25.79 Million Stock Holdings in Waste Management, Inc. $WM

Reynders McVeigh Capital Management LLC decreased its position in Waste Management, Inc. (NYSE:WM) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,692 shares of the business services provider’s stock after selling 6,363 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Waste Management were worth $25,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WM. McAdam LLC boosted its position in shares of Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after acquiring an additional 44 shares in the last quarter. Syntegra Private Wealth Group LLC lifted its holdings in shares of Waste Management by 2.0% during the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after acquiring an additional 44 shares during the period. Harbour Trust & Investment Management Co grew its holdings in shares of Waste Management by 1.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock worth $943,000 after purchasing an additional 45 shares during the last quarter. KWB Wealth increased its position in shares of Waste Management by 1.3% during the 2nd quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock worth $835,000 after purchasing an additional 47 shares in the last quarter. Finally, D.B. Root & Company LLC boosted its position in Waste Management by 3.0% in the second quarter. D.B. Root & Company LLC now owns 1,603 shares of the business services provider’s stock valued at $367,000 after buying an additional 47 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WM. Scotiabank cut their target price on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 29th. Citigroup boosted their price objective on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Barclays cut their price target on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Finally, Stifel Nicolaus lowered their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $249.14.

Waste Management Trading Up 1.6%

NYSE:WM opened at $215.49 on Monday. The business’s 50-day moving average price is $211.26 and its two-hundred day moving average price is $221.73. The firm has a market capitalization of $86.81 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.66 and a beta of 0.58. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $242.58. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the business posted $1.96 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s payout ratio is currently 51.97%.

Insider Activity

In other news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

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.