Securian Asset Management Inc. Lowers Holdings in Waste Management, Inc. $WM

Key Points

• Securian Asset Management cut its Waste Management stake by 43.5% in the fourth quarter, leaving it with 10,078 shares worth about $2.21 million.
• Wall Street remains constructive on WM, with a consensus rating of Moderate Buy and an average price target of $255.67 after several firms raised or reaffirmed positive views.
• Waste Management reported Q1 EPS of $1.81, topping estimates, and also announced a quarterly dividend of $0.945 per share payable on June 18, implying a 1.8% yield.

Securian Asset Management Inc. decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 43.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,078 shares of the business services provider's stock after selling 7,772 shares during the period. Securian Asset Management Inc.'s holdings in Waste Management were worth $2,214,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WM. Elevated Capital Advisors LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its holdings in shares of Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after purchasing an additional 67 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Waste Management in the third quarter valued at approximately $30,000. Kelleher Financial Advisors purchased a new stake in shares of Waste Management in the fourth quarter valued at approximately $31,000. Finally, Holos Integrated Wealth LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WM. Wolfe Research began coverage on Waste Management in a report on Friday, March 13th. They set a "peer perform" rating for the company. Stifel Nicolaus upped their target price on Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, January 30th. TD Cowen upped their target price on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Wells Fargo & Company lowered their target price on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Finally, Royal Bank Of Canada upped their target price on Waste Management from $235.00 to $240.00 and gave the stock a "sector perform" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.67.

Insider Transactions at Waste Management

In related news, SVP Tara J. Hemmer sold 4,818 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.83, for a total value of $1,165,136.94. Following the transaction, the senior vice president directly owned 78,918 shares of the company's stock, valued at approximately $19,084,739.94. This trade represents a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael J. Watson sold 17,251 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares in the company, valued at $10,674,944.26. This represents a 28.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,863 shares of company stock worth $13,380,021 in the last three months. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of WM opened at $214.19 on Tuesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $86.01 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.25 and a beta of 0.49. The business's 50-day moving average is $231.19 and its two-hundred day moving average is $222.90.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same period last year, the firm earned $1.67 EPS. The company's quarterly revenue was up 3.5% on a year-over-year basis. Research analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.945 per share. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. Waste Management's dividend payout ratio (DPR) is 54.70%.

About Waste Management

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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