Peapack Gladstone Financial Corp Sells 1,474 Shares of Waste Management, Inc. (NYSE:WM)

Peapack Gladstone Financial Corp decreased its position in Waste Management, Inc. (NYSE:WM) by 0.9% during the third quarter, HoldingsChannel.com reports. The fund owned 162,476 shares of the business services provider’s stock after selling 1,474 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Waste Management were worth $33,730,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WM. Activest Wealth Management increased its position in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Fairway Wealth LLC increased its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Waste Management during the 2nd quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management during the 2nd quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of Waste Management by 51.8% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 0.0 %

Shares of NYSE WM opened at $214.47 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a market capitalization of $86.08 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 2.26 and a beta of 0.75. Waste Management, Inc. has a 1-year low of $173.01 and a 1-year high of $230.39. The business has a fifty day moving average price of $217.55 and a 200 day moving average price of $211.37.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business posted $1.63 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts expect that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WM. CIBC boosted their price objective on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a report on Monday. Stifel Nicolaus boosted their price objective on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday. Argus boosted their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets boosted their price objective on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Company 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.