12,687 Shares in Waste Management, Inc. $WM Bought by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board opened a new position in Waste Management, buying 12,687 shares valued at about $2.79 million in the fourth quarter.
• Waste Management reported better-than-expected earnings for the latest quarter, posting $1.81 EPS versus the $1.75 estimate, while revenue came in at $6.23 billion and rose 3.5% year over year.
• The company also announced a quarterly dividend of $0.945 per share, payable June 18, which works out to a 1.7% annualized yield.

North Dakota State Investment Board purchased a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,687 shares of the business services provider's stock, valued at approximately $2,787,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Waste Management by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock worth $8,566,508,000 after buying an additional 553,605 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Waste Management by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider's stock worth $1,250,613,000 after buying an additional 277,250 shares in the last quarter. Northern Trust Corp boosted its stake in Waste Management by 0.3% during the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider's stock worth $873,276,000 after buying an additional 11,688 shares in the last quarter. Nordea Investment Management AB boosted its stake in Waste Management by 7.2% during the fourth quarter. Nordea Investment Management AB now owns 3,530,900 shares of the business services provider's stock worth $781,494,000 after buying an additional 236,439 shares in the last quarter. Finally, Sustainable Growth Advisers LP boosted its stake in Waste Management by 12.6% during the third quarter. Sustainable Growth Advisers LP now owns 3,262,148 shares of the business services provider's stock worth $720,380,000 after buying an additional 364,512 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Up 1.3%

Shares of NYSE:WM opened at $222.78 on Tuesday. The company's fifty day moving average is $228.75 and its 200-day moving average is $223.12. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a market capitalization of $89.46 billion, a PE ratio of 32.24, a P/E/G ratio of 2.30 and a beta of 0.49.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.67 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management's dividend payout ratio (DPR) is presently 54.70%.

Insider Activity at Waste Management

In other Waste Management news, COO John J. Morris sold 4,211 shares of the firm's stock in a transaction dated 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 sale, the chief operating officer owned 99,929 shares in the company, valued at approximately $24,320,720.02. This trade represents a 4.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Johnson Varkey sold 121 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares of the company's stock, valued at $2,279,294.11. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 35,296 shares of company stock worth $8,569,283. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Scotiabank reiterated a "sector perform" rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. TD Cowen boosted their target price on shares of Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. Finally, Wolfe Research assumed coverage on shares of Waste Management in a research note on Friday, March 13th. They issued a "peer perform" rating on the stock. One investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.67.

Waste Management 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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