MUFG Securities EMEA plc Acquires 8,104 Shares of Waste Management, Inc. $WM

Key Points

• MUFG Securities EMEA plc boosted its Waste Management stake by 5.2% in the fourth quarter, buying 8,104 additional shares and bringing its total holdings to 165,198 shares worth about $36.3 million.
• Institutional ownership remains heavy, with several large funds also adding to WM positions and institutions now controlling about 80.40% of the stock.
• Waste Management reported solid quarterly results, with EPS of $1.81 topping estimates and revenue rising 3.5% year over year; the company also announced a quarterly dividend of $0.945 per share payable June 18.

MUFG Securities EMEA plc increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,198 shares of the business services provider's stock after purchasing an additional 8,104 shares during the period. MUFG Securities EMEA plc's holdings in Waste Management were worth $36,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WM. Norges Bank bought a new stake in shares of Waste Management during the 4th quarter valued at $1,022,916,000. Capital International Investors raised its position in shares of Waste Management by 218.3% during the 3rd quarter. Capital International Investors now owns 1,369,805 shares of the business services provider's stock valued at $302,494,000 after purchasing an additional 939,455 shares during the period. Holocene Advisors LP grew its stake in Waste Management by 163.7% during the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider's stock valued at $309,317,000 after acquiring an additional 869,453 shares in the last quarter. Vanguard Group Inc. grew its stake in Waste Management by 2.1% during the third quarter. Vanguard Group Inc. now owns 38,436,462 shares of the business services provider's stock valued at $8,487,924,000 after acquiring an additional 774,255 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock valued at $150,466,000 after acquiring an additional 660,776 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO John J. Morris sold 4,211 shares of the 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 sale, the chief operating officer directly owned 99,929 shares of the company's stock, valued at $24,320,720.02. This represents a 4.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Johnson Varkey sold 121 shares of the stock in a transaction dated Monday, March 9th. The stock was 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 directly owned 9,293 shares in the company, valued at $2,279,294.11. This trade represents a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 35,222 shares of company stock valued at $8,552,294. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WM. Wolfe Research began coverage on shares of Waste Management in a research note on Friday, March 13th. They set a "peer perform" rating for the company. TD Cowen raised 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. JPMorgan Chase & Co. lifted their price objective on shares of Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Barclays lifted their price objective on shares of Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Robert W. Baird lifted their price objective 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. One investment 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $255.67.

Waste Management Stock Performance

Shares of NYSE:WM opened at $211.32 on Friday. The firm has a fifty day simple moving average of $224.81 and a two-hundred day simple moving average of $224.04. The stock has a market capitalization of $84.86 billion, a P/E ratio of 30.58, a PEG ratio of 2.21 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 issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the prior year, the firm posted $1.67 EPS. The firm's revenue was up 3.5% compared to the same quarter last year. On average, analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management's dividend payout ratio is 54.70%.

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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