Nykredit A S Makes New $30.97 Million Investment in Waste Management, Inc. $WM

Key Points

• Nykredit A/S purchased 138,943 shares of Waste Management in the second quarter, valued at approximately $30.97 million. Institutional investors own 80.4% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and six Holds, an overall “Moderate Buy” consensus, and an average price target of $258.89.
• Waste Management reported quarterly EPS of $2.02, exceeding estimates, while revenue rose 4% year over year. The company also declared a quarterly dividend of $0.945 per share, equivalent to a 1.8% annual yield.

Nykredit A S bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 138,943 shares of the business services provider's stock, valued at approximately $30,968,000.

Other hedge funds have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Waste Management during the second quarter worth $15,361,000. Vancity Investment Management Ltd lifted its stake in shares of Waste Management by 1.3% in the second quarter. Vancity Investment Management Ltd now owns 4,825 shares of the business services provider's stock worth $1,075,000 after acquiring an additional 62 shares during the period. Ameritas Advisory Services LLC boosted its holdings in Waste Management by 118.8% in the second quarter. Ameritas Advisory Services LLC now owns 14,847 shares of the business services provider's stock valued at $3,309,000 after acquiring an additional 8,062 shares during the last quarter. Kintra Wealth LLC increased its position in Waste Management by 26.5% during the 2nd quarter. Kintra Wealth LLC now owns 5,846 shares of the business services provider's stock valued at $1,311,000 after purchasing an additional 1,226 shares during the period. Finally, Guardian Wealth Management Inc. raised its holdings in Waste Management by 2.5% during the 2nd quarter. Guardian Wealth Management Inc. now owns 15,627 shares of the business services provider's stock worth $3,483,000 after purchasing an additional 380 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Insider Transactions at Waste Management

In other Waste Management news, CAO John Carroll sold 1,365 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the transaction, the chief accounting officer directly owned 3,509 shares in the company, valued at $771,629.10. This represents a 28.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WM. Barclays increased their price target on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce downgraded shares of Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Waste Management from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday. UBS Group lifted their price target on shares of Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada upped their price objective on shares of Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $258.89.

Trending Headlines about Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Investors purchased 3,004 WM call options, approximately 50% above the typical volume of 2,000 contracts. The activity indicates increased speculative interest in potential upside, although options trading alone is not a fundamental catalyst.
• Positive Sentiment: Waste Management was highlighted as a reliable-income stock alongside companies from other industries. The article points to the company’s appeal as a relatively defensive business for investors prioritizing consistent cash returns over high yield. 5 Stocks, 5 Different Industries, 1 Thing in Common: Reliable Income
• Neutral Sentiment: Wolfe Research initiated coverage of Waste Management. No analyst rating or price target was provided, so the immediate valuation impact is unclear, though new coverage could improve investor attention.
• Negative Sentiment: Waste Management Vice President Carroll sold 1,365 shares valued at approximately $300,000, representing 15% of his previous equity stake. He still owns 7,729 shares worth about $1.69 million, limiting the significance of the transaction but making it a modest negative sentiment signal. Insider Alert: WM VP Sells 1,365 Shares for $300,000

Waste Management Stock Down 1.0%

WM opened at $211.16 on Friday. The business's 50-day moving average price is $225.66 and its 200-day moving average price is $225.96. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The company has a market cap of $84.40 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.69 and a beta of 0.42.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share 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 analyst estimates of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 EPS. On average, equities analysts expect that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.945 per share. 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, September 11th. Waste Management's dividend payout ratio is currently 53.54%.

About Waste Management

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.