TIAA Trust National Association Has $4.68 Million Position in Waste Management, Inc. (NYSE:WM)

Key Points

• TIAA Trust National Association increased its holdings in Waste Management, Inc. by 5.8% in Q1, now owning a total of 20,191 shares valued at $4,675,000.
• Major investors like GAMMA Investing LLC and Capital Research Global Investors have significantly increased their stakes, reflecting strong institutional interest in Waste Management.
• The company reported a 19.0% year-over-year revenue increase in its latest earnings report, achieving $6.43 billion in revenue and $1.92 earnings per share, exceeding estimates.

TIAA Trust National Association lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,191 shares of the business services provider's stock after buying an additional 1,111 shares during the period. TIAA Trust National Association's holdings in Waste Management were worth $4,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position 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 worth $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Waste Management by 41.7% in the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after buying an additional 232 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of Waste Management by 2.8% during the 1st quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after buying an additional 7,751 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Waste Management by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after acquiring an additional 24,023 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Waste Management by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after purchasing an additional 958 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 subject of a number of research analyst reports. HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and lifted their target price for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a research report on Tuesday, May 6th. CIBC raised their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. National Bank Financial raised Waste Management to a "hold" rating in a report on Monday, May 26th. Finally, Melius started coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating on the stock. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Insider Activity at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the sale, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Up 0.8%

Waste Management stock traded up $1.81 during midday trading on Wednesday, reaching $231.59. The stock had a trading volume of 1,069,194 shares, compared to its average volume of 1,629,190. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm's fifty day simple moving average is $231.20 and its 200-day simple moving average is $228.52. The stock has a market capitalization of $93.29 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter last year, the company posted $1.82 earnings per share. Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. As a group, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. Waste Management's dividend payout ratio is presently 48.96%.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.