Waste Management, Inc. (NYSE:WM) Stock Position Lessened by Avanza Fonder AB

Avanza Fonder AB lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,973 shares of the business services provider's stock after selling 4,590 shares during the quarter. Avanza Fonder AB's holdings in Waste Management were worth $8,203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Ameliora Wealth Management Ltd. raised its position in shares of Waste Management by 15.6% during the 1st quarter. Ameliora Wealth Management Ltd. now owns 16,197 shares of the business services provider's stock worth $3,750,000 after acquiring an additional 2,180 shares in the last quarter. MADDEN SECURITIES Corp purchased a new position in Waste Management during the 1st quarter worth approximately $224,000. Fiduciary Financial Group LLC acquired a new position in shares of Waste Management in the 1st quarter valued at $292,000. Simplicity Wealth LLC purchased a new stake in Waste Management in the 1st quarter valued at $1,344,000. Finally, GAMMA Investing LLC grew its position in Waste Management by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after purchasing an additional 958 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on WM shares. HSBC raised Waste Management from a "hold" rating to a "buy" rating and upped their price objective for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Citigroup upped their price target on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Melius started coverage on shares of Waste Management in a research report on Monday. They issued a "buy" rating on the stock. Wall Street Zen raised shares of Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Robert W. Baird raised their target price on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $248.00.

Insider Transactions at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer now directly owns 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Waste Management Trading Up 1.1%

Shares of WM traded up $2.53 during mid-day trading on Thursday, hitting $236.82. The company had a trading volume of 1,065,581 shares, compared to its average volume of 1,619,610. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The business's 50-day simple moving average is $231.42 and its 200-day simple moving average is $223.70. The stock has a market cap of $95.30 billion, a PE ratio of 34.83, a P/E/G ratio of 2.71 and a beta of 0.66. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, beating the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Waste Management's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, June 6th. Waste Management's dividend payout ratio (DPR) is currently 49.77%.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.