Nykredit A S Acquires Shares of 150,921 Waste Management, Inc. $WM

Key Points

• Nykredit A/S acquired 150,921 shares of Waste Management in the second quarter, valued at approximately $33.6 million. Institutional investors collectively own 80.4% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $258.89, above the reported share price of $221.66.
• Waste Management exceeded quarterly EPS expectations, reporting $2.02 versus the $1.98 estimate, while revenue rose 4% year over year to $6.68 billion. The company also declared a quarterly dividend of $0.945 per share, representing a 1.7% yield.

Nykredit A S bought a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 150,921 shares of the business services provider's stock, valued at approximately $33,637,000.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Waste Management during the fourth quarter valued at approximately $1,022,916,000. Morgan Stanley Institutional Investment Advisors LLC bought a new position in Waste Management in the 2nd quarter valued at $322,479,000. Corient Private Wealth LLC increased its stake in Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock worth $236,387,000 after purchasing an additional 792,037 shares during the period. Diamant Asset Management Inc. lifted its position in shares of Waste Management by 23,051.5% during the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock worth $17,716,000 after purchasing an additional 767,615 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of 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 purchasing an additional 660,776 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WM has been the topic of several recent analyst reports. Scotiabank raised their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. Barclays boosted their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised their target price on shares of Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Oppenheimer decreased their price target on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus increased their price objective on Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Trading Up 1.2%

NYSE WM opened at $221.66 on Friday. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $88.60 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42. The company's 50-day simple moving average is $228.62 and its two-hundred day simple moving average is $227.23.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. The firm had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.92 earnings per share. Equities analysts forecast that Waste Management, Inc. will post 8.13 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 11th. Waste Management's dividend payout ratio is 53.54%.

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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