Arbejdsmarkedets Tillaegspension Takes $24.42 Million Position in Waste Management, Inc. $WM

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in Waste Management, buying 111,122 shares worth about $24.4 million in the fourth quarter. The stake now represents about 0.6% of its portfolio and ranks as its 28th-largest holding.
• Waste Management’s latest earnings beat expectations, with EPS of $1.81 versus the $1.75 consensus, while revenue came in slightly below estimates at $6.23 billion. Revenue still rose 3.5% year over year, and analysts expect full-year EPS of 8.15.
• Wall Street remains constructive on WM, with a consensus rating of “Moderate Buy” and an average price target of $255.67. The company also announced a quarterly dividend of $0.945 per share, equal to a 1.7% yield.

Arbejdsmarkedets Tillaegspension bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 111,122 shares of the business services provider's stock, valued at approximately $24,415,000. Waste Management comprises approximately 0.6% of Arbejdsmarkedets Tillaegspension's portfolio, making the stock its 28th largest holding.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. bought a new stake in shares of Waste Management during the 1st quarter valued at $325,000. Sei Investments Co. raised its position in shares of Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider's stock valued at $62,339,000 after acquiring an additional 20,122 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Waste Management by 68.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider's stock valued at $83,843,000 after acquiring an additional 148,590 shares during the last quarter. Finally, Glenview Trust co grew its holdings in shares of Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider's stock valued at $764,000 after buying an additional 162 shares during the period. Institutional investors own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Oppenheimer upped their target price on shares of Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. Robert W. Baird upped their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Scotiabank reaffirmed a "sector perform" rating and issued a $250.00 target price (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Finally, Wolfe Research began coverage on shares of Waste Management in a research report on Friday, March 13th. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and an average target price of $255.67.

Waste Management Stock Up 1.0%

Shares of WM stock opened at $218.60 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The firm's 50-day moving average is $229.69 and its 200-day moving average is $222.94. The stock has a market cap of $87.79 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.26 and a beta of 0.49. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

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 for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business's revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 EPS. Sell-side analysts predict that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management's dividend payout ratio is currently 54.70%.

Insider Transactions at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 4,818 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.83, for a total value of $1,165,136.94. Following the transaction, the senior vice president directly owned 78,918 shares of the company's stock, valued at $19,084,739.94. This represents a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Johnson Varkey sold 617 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $244.13, for a total transaction of $150,628.21. Following the completion of the transaction, the senior vice president directly owned 9,607 shares in the company, valued at approximately $2,345,356.91. This represents a 6.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 47,490 shares of company stock worth $11,416,338. 0.18% of the stock is currently owned by insiders.

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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