Fideuram Asset Management Ireland dac Acquires Shares of 4,816 Waste Management, Inc. $WM

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Waste Management, buying 4,816 shares in the fourth quarter worth about $1.1 million.
• Several other large institutional investors also increased their stakes, and institutions now own 80.4% of Waste Management’s shares.
• Waste Management reported quarterly EPS of $1.81, topping expectations, while analysts remain broadly positive with a Moderate Buy consensus and a target price of $255.67.

Fideuram Asset Management Ireland dac acquired 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. The institutional investor acquired 4,816 shares of the business services provider's stock, valued at approximately $1,104,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Waste Management by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock valued at $8,566,508,000 after acquiring an additional 553,605 shares during the last quarter. Geode Capital Management LLC raised its holdings in Waste Management by 1.3% in the 4th 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 acquiring an additional 117,476 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Waste Management by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider's stock valued at $1,250,613,000 after acquiring an additional 277,250 shares during the last quarter. Northern Trust Corp raised its holdings in Waste Management by 0.3% in the 3rd quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider's stock valued at $873,276,000 after acquiring an additional 11,688 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Waste Management by 7.2% in the 4th quarter. Nordea Investment Management AB now owns 3,530,900 shares of the business services provider's stock valued at $781,494,000 after acquiring an additional 236,439 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WM shares. Barclays raised their price target on shares of Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Stifel Nicolaus raised their price target on shares of Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Royal Bank Of Canada raised their price target on shares of Waste Management from $235.00 to $240.00 and gave the stock a "sector perform" rating in a report on Thursday, April 30th. Robert W. Baird raised their price target on shares of Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Finally, TD Cowen raised their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.67.

Insider Buying and Selling

In other news, COO John J. Morris sold 4,211 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $243.38, for a total value of $1,024,873.18. Following the sale, the chief operating officer directly owned 99,929 shares in the company, valued at approximately $24,320,720.02. This trade represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Johnson Varkey sold 121 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,222 shares of company stock valued at $8,552,294 in the last three months. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Performance

Shares of WM stock opened at $211.32 on Friday. The firm has a 50 day moving average of $224.81 and a two-hundred day moving average of $224.04. The stock has a market capitalization of $84.86 billion, a PE ratio of 30.58, a P/E/G ratio of 2.24 and a beta of 0.49. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. 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 announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The business had revenue of $6.23 billion for 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 company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.67 earnings per share. On average, research analysts predict that Waste Management, Inc. will post 8.15 EPS 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. Stockholders of record on Friday, June 5th will be paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, June 5th. Waste Management's dividend payout ratio (DPR) is presently 54.70%.

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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