Swiss Life Asset Management Ltd lowered its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,343 shares of the business services provider’s stock after selling 2,551 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Waste Management were worth $10,402,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the stock. Naples Global Advisors LLC grew its stake in shares of Waste Management by 29.5% in the fourth quarter. Naples Global Advisors LLC now owns 19,300 shares of the business services provider’s stock valued at $4,240,000 after buying an additional 4,400 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in Waste Management by 5.0% in the fourth quarter. Drive Wealth Management LLC now owns 3,834 shares of the business services provider’s stock valued at $842,000 after purchasing an additional 183 shares during the last quarter. Family Legacy Inc. boosted its holdings in Waste Management by 0.5% in the fourth quarter. Family Legacy Inc. now owns 14,889 shares of the business services provider’s stock valued at $3,271,000 after purchasing an additional 78 shares during the last quarter. Pure Financial Advisors LLC boosted its holdings in Waste Management by 13.6% in the fourth quarter. Pure Financial Advisors LLC now owns 3,191 shares of the business services provider’s stock valued at $701,000 after purchasing an additional 382 shares during the last quarter. Finally, Income Insurance Ltd purchased a new position in Waste Management in the fourth quarter valued at about $263,000. Institutional investors and hedge funds own 80.40% of the company’s stock.
Insider Activity at Waste Management
In related news, VP Michael J. Watson sold 17,251 shares of Waste Management stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.81, for a total value of $4,171,464.31. Following the transaction, the vice president directly owned 44,146 shares in the company, valued at $10,674,944.26. The trade was a 28.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rafael Carrasco sold 7,352 shares of Waste Management stock in a transaction on Friday, February 13th. The shares were sold at an average price of $234.50, for a total value of $1,724,044.00. Following the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,644,130. This represents a 32.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,842 shares of company stock worth $13,140,382 in the last quarter. Company insiders own 0.18% of the company’s stock.
Waste Management Trading Up 1.6%
Waste Management (NYSE:WM – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. Equities research analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.
Waste Management Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.945 per share. The ex-dividend date is Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management’s dividend payout ratio (DPR) is 54.70%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on WM shares. Wells Fargo & Company reduced their price target on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Robert W. Baird lifted their target price on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. TD Cowen lifted their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wolfe Research started coverage on Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Royal Bank Of Canada lifted their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.67.
Read Our Latest Stock Analysis on WM
Waste Management Company Profile
Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.
Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.
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