Victory Capital Management Inc. Has $39.32 Million Position in Waste Management, Inc. (NYSE:WM)

Victory Capital Management Inc. lessened its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 1.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 169,851 shares of the business services provider's stock after selling 2,633 shares during the period. Victory Capital Management Inc.'s holdings in Waste Management were worth $39,322,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WM. Vanguard Group Inc. lifted its position in Waste Management by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock worth $7,526,823,000 after buying an additional 538,567 shares in the last quarter. Geode Capital Management LLC grew its stake in Waste Management by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock valued at $1,654,173,000 after buying an additional 64,260 shares during the last quarter. Norges Bank acquired a new position in Waste Management in the 4th quarter valued at about $1,009,726,000. Ameriprise Financial Inc. grew its stake in Waste Management by 5.8% in the 4th quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after buying an additional 224,279 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Waste Management by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,996,773 shares of the business services provider's stock worth $806,509,000 after purchasing an additional 465,789 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

WM has been the subject of a number of recent analyst reports. CIBC upped their price target on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Hsbc Global Res upgraded shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research note on Wednesday, June 25th. Finally, HSBC raised shares of Waste Management from a "hold" rating to a "buy" rating and raised their price target for the company from $210.00 to $265.00 in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average target price of $251.29.

Waste Management Price Performance

Shares of Waste Management stock opened at $227.13 on Friday. The company has a fifty day moving average of $231.54 and a 200-day moving average of $226.55. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. The stock has a market capitalization of $91.40 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. Equities research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is 49.77%.

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.

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