Montecito Bank & Trust Acquires Shares of 3,204 Waste Management, Inc. $WM

Montecito Bank & Trust bought a new stake in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,204 shares of the business services provider’s stock, valued at approximately $708,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Saudi Central Bank purchased a new stake in Waste Management during the first quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the 1st quarter valued at approximately $38,000. Loomis Sayles & Co. L P bought a new position in Waste Management in the 2nd quarter worth approximately $40,000. Wealth Watch Advisors INC bought a new stake in Waste Management during the 2nd quarter valued at $43,000. Finally, eCIO Inc. purchased a new stake in shares of Waste Management during the first quarter worth $53,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $218.25 on Friday. The company’s fifty day moving average price is $211.31 and its 200-day moving average price is $221.41. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The firm has a market capitalization of $87.93 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.71 and a beta of 0.58. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (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 company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s payout ratio is presently 51.97%.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WM. The Goldman Sachs Group began coverage on Waste Management in a report on Monday, November 24th. They set a “buy” rating and a $256.00 price objective on the stock. Royal Bank Of Canada cut their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 29th. National Bankshares reduced their price objective on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Waste Management in a research report on Monday. Three 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. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $248.95.

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.