Park National Corp OH Sells 11,494 Shares of Waste Management, Inc. (NYSE:WM)

Park National Corp OH reduced its position in Waste Management, Inc. (NYSE:WM) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,855 shares of the business services provider’s stock after selling 11,494 shares during the period. Waste Management makes up about 1.5% of Park National Corp OH’s investment portfolio, making the stock its 14th biggest position. Park National Corp OH’s holdings in Waste Management were worth $42,943,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WM. Hexagon Capital Partners LLC raised its position in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management during the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter valued at $35,000. Fairway Wealth LLC increased its stake in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the second quarter valued at about $36,000. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. BMO Capital Markets cut their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Finally, CIBC decreased their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Trading Down 0.3 %

Shares of NYSE:WM opened at $207.32 on Thursday. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The business’s fifty day simple moving average is $206.34 and its 200-day simple moving average is $208.57. The company has a market capitalization of $83.20 billion, a PE ratio of 33.93, a P/E/G ratio of 2.30 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.45%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.