Thrivent Financial for Lutherans Acquires 10,746 Shares of Waste Management, Inc. $WM

Key Points

• Thrivent Financial for Lutherans increased its Waste Management stake by 18.6% in the fourth quarter, buying 10,746 additional shares and bringing its total holdings to 68,661 shares worth about $15.1 million.
• Several analysts recently raised their price targets on Waste Management (NYSE: WM), and the stock now carries a consensus rating of “Moderate Buy” with an average price target of $255.67.
• The company reported better-than-expected quarterly earnings of $1.81 per share, and it also announced a quarterly dividend of $0.945 per share, payable June 18, for an annualized yield of about 1.7%.

Thrivent Financial for Lutherans raised its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 18.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,661 shares of the business services provider's stock after purchasing an additional 10,746 shares during the period. Thrivent Financial for Lutherans' holdings in Waste Management were worth $15,120,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Sprott Inc. bought a new position in Waste Management in the 1st quarter worth $325,000. Sei Investments Co. lifted its position in shares of Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider's stock worth $62,339,000 after purchasing an additional 20,122 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Waste Management by 68.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider's stock valued at $83,843,000 after purchasing an additional 148,590 shares in the last quarter. Finally, Glenview Trust co raised its stake in Waste Management by 5.1% in the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider's stock worth $764,000 after buying an additional 162 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WM has been the topic of several research reports. Royal Bank Of Canada lifted their price objective on Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. Robert W. Baird raised their target price on Waste Management from $248.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. upped their price target on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. TD Cowen increased their price objective on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Oppenheimer raised their price objective on Waste Management from $263.00 to $264.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $255.67.

Insider Activity

In other Waste Management news, SVP Johnson Varkey sold 121 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the sale, the senior vice president directly owned 9,293 shares in the company, valued at approximately $2,279,294.11. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tara J. Hemmer sold 4,818 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the completion of the transaction, the senior vice president owned 78,918 shares in the company, valued at approximately $19,084,739.94. This represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 35,296 shares of company stock valued at $8,569,283. Company insiders own 0.18% of the company's stock.

Waste Management Stock Performance

Shares of WM opened at $222.78 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market cap of $89.46 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.30 and a beta of 0.49. The business's 50 day moving average price is $228.75 and its 200-day moving average price is $223.12. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (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 business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.945 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. Waste Management's payout ratio is presently 54.70%.

Waste Management Company 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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