Nisa Investment Advisors LLC lowered its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,104 shares of the business services provider's stock after selling 4,991 shares during the quarter. Nisa Investment Advisors LLC's holdings in Waste Management were worth $18,776,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Waste Management during the fourth quarter valued at $1,009,726,000. GAMMA Investing LLC lifted its holdings in Waste Management by 26,095.2% during the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock valued at $442,038,000 after purchasing an additional 1,902,081 shares in the last quarter. Capital Research Global Investors lifted its holdings in Waste Management by 250.1% during the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock valued at $334,716,000 after purchasing an additional 1,184,905 shares in the last quarter. Parnassus Investments LLC lifted its holdings in Waste Management by 22.5% during the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after purchasing an additional 1,151,237 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in Waste Management during the fourth quarter valued at $205,506,000. Institutional investors and hedge funds own 80.40% of the company's stock.
Insider Transactions at Waste Management
In other news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.
Analyst Ratings Changes
WM has been the topic of several recent analyst reports. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price objective on the stock in a report on Monday, June 9th. UBS Group raised their price target on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Hsbc Global Res raised shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Robert W. Baird raised their price target 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. Finally, Oppenheimer raised their price target on shares of Waste Management from $255.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $251.29.
Read Our Latest Report on WM
Waste Management Trading Up 0.0%
Shares of WM stock traded up $0.08 on Friday, reaching $225.73. 818,744 shares of the stock were exchanged, compared to its average volume of 1,727,794. The stock has a market cap of $90.84 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. The firm has a 50 day moving average of $232.44 and a two-hundred day moving average of $225.44. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58.
Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data 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. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same period last year, the company posted $1.75 earnings per share. The firm's revenue was up 16.7% compared to the same quarter last year. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.
Waste Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is presently 49.77%.
About Waste Management
(
Free Report)
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.
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