Today: Huntington National Bank Sold shares of Waste Management Inc. (WM)

Today: Huntington National Bank Sold shares of Waste Management Inc. (WM)

Huntington National Bank lowered its stake in Waste Management Inc. (NYSE:WM) by 25.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,639 shares of the company’s stock after selling 7,714 shares during the period. Huntington National Bank’s holdings in Waste Management were worth $1,500,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Financial Architects Inc increased its stake in Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock valued at $132,000 after buying an additional 16 shares during the last quarter. Davis R M Inc. increased its stake in Waste Management by 0.3% in the second quarter. Davis R M Inc. now owns 6,118 shares of the company’s stock valued at $405,000 after buying an additional 18 shares during the last quarter. Lodestar Investment Counsel LLC IL increased its stake in Waste Management by 1.2% in the second quarter. Lodestar Investment Counsel LLC IL now owns 4,350 shares of the company’s stock valued at $288,000 after buying an additional 50 shares during the last quarter. Financial Strategy Network LLC increased its stake in Waste Management by 1.5% in the first quarter. Financial Strategy Network LLC now owns 3,941 shares of the company’s stock valued at $236,000 after buying an additional 57 shares during the last quarter. Finally, Investment House LLC increased its stake in Waste Management by 0.5% in the second quarter. Investment House LLC now owns 12,383 shares of the company’s stock valued at $821,000 after buying an additional 58 shares during the last quarter. 75.12% of the stock is owned by institutional investors.

Waste Management Inc. (NYSE:WM) traded up 0.29% during mid-day trading on Friday, reaching $61.88. 1,869,137 shares of the company’s stock traded hands. The company has a market cap of $27.37 billion, a P/E ratio of 24.18 and a beta of 0.62. The stock has a 50 day moving average of $63.31 and a 200 day moving average of $62.80. Waste Management Inc. has a 12-month low of $50.36 and a 12-month high of $70.50.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The business earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. On average, equities research analysts predict that Waste Management Inc. will post $2.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.64 annualized dividend and a yield of 2.65%. Waste Management’s dividend payout ratio (DPR) is presently 63.81%.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Barclays PLC downgraded shares of Waste Management from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $66.00 to $70.00 in a research report on Tuesday, August 9th. Imperial Capital upped their price objective on shares of Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a research report on Friday, July 29th. Argus reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Waste Management in a research report on Wednesday, August 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $73.00 price objective on shares of Waste Management in a research report on Thursday, July 28th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.77.

In other news, Director Frank M. Clark sold 449 shares of Waste Management stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $67.21, for a total value of $30,177.29. Following the completion of the sale, the director now directly owns 29,084 shares in the company, valued at $1,954,735.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Puneet Bhasin sold 11,236 shares of Waste Management stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $65.81, for a total transaction of $739,441.16. Following the completion of the sale, the executive vice president now owns 44,431 shares of the company’s stock, valued at $2,924,004.11. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Waste Management Company Profile

Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.

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