Waste Management, Inc. (NYSE:WM) is Home Federal Bank of Tennessee’s 10th Largest Position

Home Federal Bank of Tennessee reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,072 shares of the business services provider’s stock after selling 45 shares during the quarter. Waste Management accounts for approximately 1.2% of Home Federal Bank of Tennessee’s holdings, making the stock its 10th biggest position. Home Federal Bank of Tennessee’s holdings in Waste Management were worth $3,952,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Transce3nd LLC purchased a new position in Waste Management in the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Waste Management during the 4th quarter valued at approximately $33,000. Hurley Capital LLC bought a new position in shares of Waste Management during the 4th quarter valued at approximately $34,000. Pineridge Advisors LLC bought a new position in Waste Management in the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC bought a new position in Waste Management in the 4th quarter valued at $36,000. 80.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Waste Management

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

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. UBS Group upped their price objective on Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Scotiabank increased their price target on Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 8th. William Blair restated an “outperform” rating on shares of Waste Management in a research report on Tuesday, April 29th. National Bank Financial upgraded Waste Management to a “hold” rating in a research report on Monday, May 26th. Finally, HSBC raised Waste Management from a “hold” rating to a “buy” rating and raised their target price for the stock from $210.00 to $265.00 in a research note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $248.00.

Waste Management Stock Performance

Shares of WM stock opened at $233.94 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The business has a 50 day moving average of $231.29 and a two-hundred day moving average of $223.55. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $242.58. The company has a market cap of $94.14 billion, a P/E ratio of 34.40, a PEG ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM) last issued its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. 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 previous year, the firm posted $1.75 earnings per share. Waste Management’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.41%. 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.