Norges Bank purchased a new position in shares of Waste Management, Inc. (NYSE: WM – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,119,540 shares of the business services provider’s stock, valued at approximately $ 687,551,000. Norges Bank owned about 0.99% of Waste Management as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley lifted its holdings in Waste Management by 6.9% in the second quarter. Morgan Stanley now owns 3,708,763 shares of the business services provider’s stock valued at $ 519,634,000 after buying an additional 239,990 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Waste Management by 184.0% in the 3rd quarter. Renaissance Technologies LLC now owns 40,900 shares of the business services provider’s stock valued at $ 6,109,000 after purchasing an additional 26,500 shares during the period. Marshall Wace LLP bought a new stake in shares of Waste Management during the 3rd quarter valued at about $ 693,000. MML Investors Services LLC grew its stake in Waste Management by 4.6% during the third quarter. MML Investors Services LLC now owns 55,573 shares of the business services provider’s stock worth $ 8,300,000 after purchasing an additional 2,455 shares during the period. Finally, LPL Financial LLC grew its position in shares of Waste Management by 11.5% during the 3rd quarter. LPL Financial LLC now owns 484,946 shares of the business services provider’s stock worth $ 72,432,000 after buying an additional 49,992 shares during the period. Hedge funds and other institutional investors own 80.37% of the company stock.
In other news, SVP Nikolaj H. Sjoqvist sold 10,311 shares of Waste Management stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $ 166.57, for a total transaction of $ 1,717,503.27. Following the sale, the senior vice president now directly owns 38,769 shares in the company, valued at approximately $ 6,457,752.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Leslie K. Nagy sold 2,668 shares of the stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $ 169.72, for a total transaction of $ 452,812.96. Following the transaction, the chief accounting officer now owns 4,880 shares of the company stock, valued at approximately $ 828,233.60. The disclosure for this sale can be found here. Insiders sold a total of 88,961 shares of company stock valued at $ 14,651,682 over the last ninety days. 0.18% of the stock is currently owned by insiders.
WM has been the topic of several research analyst reports. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Waste Management from $ 157.00 to $ 167.00 in a research report on Thursday, April 28th. BMO Capital Markets lowered Waste Management from an “outperform” rating to a “market perform” rating and set a $ 174.00 target price for the company. in a research report on Tuesday, April 12th. Raymond James increased their price target on Waste Management from $ 167.00 to $ 170.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. Finally, JPMorgan Chase & Co. began coverage on Waste Management in a report on Tuesday, March 1st. They set a “neutral” rating and a $ 153.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Hold” and an average target price of $ 161.57.
Shares of Waste Management stock opened at $ 140.65 on Friday. Waste Management, Inc. has a 52 week low of $ 136.97 and a 52 week high of $ 170.18. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.83. The business has a 50 day moving average price of $ 157.44 and a 200-day moving average price of $ 155.92. The company has a market cap of $ 58.40 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80.
Waste Management (NYSE: WM – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The business services provider reported $ 1.29 EPS for the quarter, beating analysts’ consensus estimates of $ 1.12 by $ 0.17. The business had revenue of $ 4.66 billion during the quarter, compared to analyst estimates of $ 4.45 billion. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. Waste Management’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $ 1.06 EPS. As a group, research analysts anticipate that Waste Management, Inc. will post 5.55 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a dividend of $ 0.65 per share. This represents a $ 2.60 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, June 2nd. Waste Management’s dividend payout ratio (DPR) is presently 57.27%.
Waste Management Company Profile: (Get Rating)
Waste Management, Inc., through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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