Mitsubishi UFJ Asset Management Co. Ltd. Has $157 Million Holdings in Waste Management, Inc. (NYSE:WM)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Waste Management, Inc. by 11.6%, acquiring an additional 70,577 shares to bring its total holdings to 678,171 shares, valued at approximately $157 million.
• Several research firms, including Citigroup and JPMorgan Chase, have raised their price targets for Waste Management, indicating a positive outlook with an average rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.825, with a current dividend yield of 1.4%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 678,171 shares of the business services provider's stock after purchasing an additional 70,577 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Waste Management worth $157,003,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC increased its position in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at about $28,000. West Branch Capital LLC increased its position in shares of Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares during the last quarter. Adalta Capital Management LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at about $40,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management in the first quarter valued at about $45,000. 80.40% of the stock is currently owned by institutional investors.

Insider Activity at Waste Management

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WM shares. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Robert W. Baird boosted their price target on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Raymond James Financial boosted their price target on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a research report on Monday, June 9th. Finally, National Bank Financial raised Waste Management to a "hold" rating in a research report on Monday, May 26th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Stock Performance

Shares of NYSE:WM traded up $1.89 during trading on Friday, reaching $235.11. 1,088,435 shares of the stock were exchanged, compared to its average volume of 1,562,063. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The firm has a market cap of $94.71 billion, a PE ratio of 34.88, a PEG ratio of 2.88 and a beta of 0.64. The stock has a 50-day moving average price of $230.87 and a 200-day moving average price of $228.96. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 6th. Waste Management's payout ratio is 48.96%.

Waste Management Company Profile

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.