Charter Trust Co. Has $3.95 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Charter Trust Co. grew its holdings in Waste Management, Inc. (NYSE:WM) by 0.8% during the second quarter, Holdings Channel.com reports. The firm owned 28,163 shares of the business services provider’s stock after buying an additional 234 shares during the period. Charter Trust Co.’s holdings in Waste Management were worth $3,946,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Credit Agricole S A lifted its position in Waste Management by 8.4% in the 1st quarter. Credit Agricole S A now owns 167,153 shares of the business services provider’s stock worth $21,566,000 after buying an additional 12,960 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Waste Management by 19.2% during the first quarter. Cerity Partners LLC now owns 7,758 shares of the business services provider’s stock worth $1,001,000 after acquiring an additional 1,251 shares in the last quarter. Bessemer Group Inc. boosted its position in Waste Management by 77.6% during the first quarter. Bessemer Group Inc. now owns 640,696 shares of the business services provider’s stock valued at $82,662,000 after purchasing an additional 279,930 shares during the last quarter. Tower Bridge Advisors grew its stake in Waste Management by 13.4% in the first quarter. Tower Bridge Advisors now owns 21,330 shares of the business services provider’s stock valued at $2,752,000 after purchasing an additional 2,525 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its position in Waste Management by 0.9% in the 1st quarter. Bahl & Gaynor Inc. now owns 192,951 shares of the business services provider’s stock worth $24,894,000 after purchasing an additional 1,631 shares during the last quarter. Institutional investors and hedge funds own 74.10% of the company’s stock.

In related news, CAO Leslie K. Nagy sold 2,006 shares of the business’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $139.06, for a total value of $278,954.36. Following the sale, the chief accounting officer now owns 4,776 shares of the company’s stock, valued at approximately $664,150.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Devina A. Rankin sold 33,115 shares of Waste Management stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $155.18, for a total value of $5,138,785.70. Following the transaction, the chief financial officer now directly owns 53,434 shares of the company’s stock, valued at $8,291,888.12. The disclosure for this sale can be found here. Insiders sold 81,415 shares of company stock valued at $12,300,321 over the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on WM. Morgan Stanley increased their price objective on Waste Management from $133.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Waste Management from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, July 29th. BMO Capital Markets upped their price objective on shares of Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Raymond James restated an “outperform” rating and set a $146.70 target price (down from $147.00) on shares of Waste Management in a report on Monday, July 26th. Finally, Oppenheimer upped their price target on Waste Management from $146.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $136.25.

NYSE WM traded up $0.81 during trading on Tuesday, hitting $153.54. The company’s stock had a trading volume of 20,452 shares, compared to its average volume of 1,613,705. Waste Management, Inc. has a 52 week low of $106.11 and a 52 week high of $156.74. The firm has a market cap of $64.66 billion, a P/E ratio of 40.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81. The firm has a 50 day moving average price of $150.36 and a 200 day moving average price of $140.75. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 1.75.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 27th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.09. Waste Management had a net margin of 9.69% and a return on equity of 26.32%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Waste Management’s revenue was up 25.7% compared to the same quarter last year. On average, equities analysts expect that Waste Management, Inc. will post 4.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, September 2nd. Waste Management’s dividend payout ratio is presently 57.07%.

Waste Management Company Profile

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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