National Pension Service grew its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 946,830 shares of the business services provider’s stock after purchasing an additional 50,738 shares during the period. National Pension Service’s holdings in Waste Management were worth $208,028,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Waste Management by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock valued at $8,566,508,000 after purchasing an additional 553,605 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Waste Management by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider’s stock valued at $1,972,371,000 after purchasing an additional 117,476 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Waste Management by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock valued at $1,250,613,000 after purchasing an additional 277,250 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Waste Management by 0.3% in the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider’s stock valued at $873,276,000 after purchasing an additional 11,688 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Waste Management by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 3,530,900 shares of the business services provider’s stock valued at $781,494,000 after purchasing an additional 236,439 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on WM shares. Wolfe Research started coverage on Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Robert W. Baird raised their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Royal Bank Of Canada raised their target price on Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Wells Fargo & Company decreased their price target on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Barclays lifted their price target on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.67.
Insider Transactions at Waste Management
In other news, SVP Tara J. Hemmer sold 4,818 shares of Waste Management stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.83, for a total value of $1,165,136.94. Following the completion of the transaction, the senior vice president directly owned 78,918 shares in the company, valued at approximately $19,084,739.94. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John J. Morris sold 4,211 shares of Waste Management stock in a transaction on Monday, March 9th. The shares were sold at an average price of $243.38, for a total value of $1,024,873.18. Following the completion of the transaction, the chief operating officer owned 99,929 shares of the company’s stock, valued at approximately $24,320,720.02. This trade represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 35,222 shares of company stock valued at $8,552,294. Corporate insiders own 0.18% of the company’s stock.
Waste Management Stock Performance
NYSE:WM opened at $211.32 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The business has a fifty day simple moving average of $224.81 and a two-hundred day simple moving average of $224.04. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a market capitalization of $84.86 billion, a P/E ratio of 30.58, a P/E/G ratio of 2.24 and a beta of 0.49.
Waste Management (NYSE:WM – Get Free Report) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the business posted $1.67 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current year.
Waste Management Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is currently 54.70%.
About Waste Management
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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