Waste Management, Inc. (NYSE:WM) Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB significantly reduced its holdings in Waste Management, Inc. by 73.4%, selling 28,862 shares and leaving them with 10,436 shares valued at approximately $2.42 million.
• Waste Management's quarterly earnings beat expectations with reported earnings of $1.92 EPS, surpassing the consensus estimate of $1.89, and the company saw a 19% year-over-year revenue increase.
• Institutional investors currently hold 80.40% of Waste Management's stock, reflecting strong interest among large financial entities in the company's performance.

AMF Tjanstepension AB cut its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 73.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,436 shares of the business services provider's stock after selling 28,862 shares during the period. AMF Tjanstepension AB's holdings in Waste Management were worth $2,422,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WM. Brighton Jones LLC lifted 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 during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Waste Management by 14.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock worth $25,193,000 after purchasing an additional 15,974 shares in the last quarter. Texas Yale Capital Corp. acquired a new position in Waste Management during the fourth quarter worth $210,000. Phoenix Financial Ltd. lifted its stake in Waste Management by 11.4% during the fourth quarter. Phoenix Financial Ltd. now owns 1,656 shares of the business services provider's stock worth $334,000 after purchasing an additional 170 shares in the last quarter. Finally, Argent Trust Co lifted its stake in Waste Management by 1.2% during the fourth quarter. Argent Trust Co now owns 14,384 shares of the business services provider's stock worth $2,903,000 after purchasing an additional 164 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

NYSE WM opened at $235.11 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The company has a market capitalization of $94.71 billion, a PE ratio of 34.88, a P/E/G ratio of 2.86 and a beta of 0.64. The company has a fifty day moving average of $230.87 and a two-hundred day moving average of $228.84.

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

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.825 per share. The ex-dividend date 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 48.96%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WM. HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and upped their price target for the stock from $210.00 to $265.00 in a research note on Friday, April 25th. Seaport Res Ptn raised Waste Management to a "hold" rating in a research report on Tuesday, May 6th. UBS Group upped their price objective on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Finally, Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Insider Activity

In other news, CFO Devina A. Rankin sold 57,888 shares of the 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 completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of the firm's 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 completion of the sale, the senior vice president owned 16,542 shares of the company's stock, valued at approximately $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 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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