Waste Management, Inc. (NYSE:WM) Stock Position Lifted by ING Groep NV

Key Points

• ING Groep NV increased its stake in Waste Management, Inc. by 81.6% in the first quarter, owning approximately 0.06% of the company, valued at nearly $57.8 million.
• Waste Management reported earnings of $1.92 per share for the last quarter, exceeding estimates and showing a 19% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $0.825, with a dividend yield of 1.4% and a payout ratio of 48.96%.

ING Groep NV grew its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 81.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,863 shares of the business services provider's stock after buying an additional 112,289 shares during the quarter. ING Groep NV owned 0.06% of Waste Management worth $57,846,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Brighton Jones LLC raised its position in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Waste Management by 41.7% during the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after acquiring an additional 232 shares during the last quarter. Calamos Advisors LLC increased its position in shares of Waste Management by 2.8% in the 1st quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after purchasing an additional 7,751 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after purchasing an additional 24,023 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Waste Management by 13.1% in the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after purchasing an additional 958 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird increased their target price on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a research note on Tuesday, May 6th. UBS Group lifted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Oppenheimer increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a report on Monday, June 9th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $254.35.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated 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 of the company's stock, valued at approximately $3,917,311.02. This trade 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 firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Waste Management Price Performance

NYSE WM traded up $1.89 on Friday, reaching $235.11. 691,215 shares of the stock traded hands, compared to its average volume of 1,704,405. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm's fifty day simple moving average is $230.99 and its 200 day simple moving average is $228.69. The company has a market cap of $94.71 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 2.84 and a beta of 0.64.

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

Waste Management Dividend Announcement

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

Waste Management Company 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.