State Street Corp Has $4.01 Billion Position in Waste Management, Inc. $WM

Key Points

• State Street increased its Waste Management position by 2.9% in the second quarter, owning 18.0 million shares valued at approximately $4.01 billion. Institutional investors collectively hold 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, exceeding estimates by $0.04, while revenue rose 4.0% year over year to $6.68 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $258.89.
• The company declared a quarterly dividend of $0.945 per share, or $3.78 annualized, yielding approximately 1.8%. Shares recently traded at $207.45, below the analyst consensus target and their 52-week high of $248.13.

State Street Corp raised its position in Waste Management, Inc. (NYSE:WM - Free Report) by 2.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 18,008,931 shares of the business services provider's stock after acquiring an additional 507,209 shares during the period. State Street Corp owned about 4.51% of Waste Management worth $4,013,831,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in Waste Management by 1.8% in the 2nd quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider's stock valued at $6,849,981,000 after buying an additional 535,079 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Waste Management by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider's stock valued at $1,972,371,000 after acquiring an additional 117,476 shares during the last quarter. Norges Bank bought a new stake in Waste Management during the fourth quarter worth about $1,022,916,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Waste Management by 1.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,121,427 shares of the business services provider's stock valued at $695,704,000 after purchasing an additional 35,322 shares in the last quarter. Finally, Swedbank AB grew its stake in Waste Management by 17.0% in the first quarter. Swedbank AB now owns 2,392,868 shares of the business services provider's stock valued at $549,857,000 after purchasing an additional 348,183 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Shares of NYSE:WM traded up $0.41 during midday trading on Tuesday, hitting $207.45. The stock had a trading volume of 774,987 shares, compared to its average volume of 2,164,666. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $82.92 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 2.66 and a beta of 0.42. The company's 50-day moving average price is $225.06 and its 200-day moving average price is $225.58. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13.

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

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 11th. Waste Management's dividend payout ratio (DPR) is presently 53.54%.

Analysts Set New Price Targets

WM has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price objective on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Scotiabank increased their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Thursday, July 16th. Stifel Nicolaus upped their target price on shares of Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce lowered Waste Management from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Finally, Oppenheimer cut their price target on Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Insider Transactions at Waste Management

In related news, CAO John Carroll sold 1,365 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were 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 owned 3,509 shares of the company's stock, valued at $771,629.10. This represents a 28.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Company Profile

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.

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