Pictet Asset Management Holding SA Sells 248,142 Shares of Waste Management, Inc. (NYSE:WM)

Pictet Asset Management Holding SA lessened its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,237,047 shares of the business services provider's stock after selling 248,142 shares during the quarter. Waste Management comprises about 0.8% of Pictet Asset Management Holding SA's investment portfolio, making the stock its 19th biggest position. Pictet Asset Management Holding SA owned about 0.80% of Waste Management worth $749,390,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Waste Management by 51.1% during the 4th 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 during the period. Bank Pictet & Cie Europe AG raised its position in Waste Management by 14.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after purchasing an additional 15,974 shares during the period. Proficio Capital Partners LLC purchased a new position in Waste Management in the fourth quarter valued at about $295,000. Creative Financial Designs Inc. ADV raised its position in Waste Management by 15.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,536 shares of the business services provider's stock valued at $310,000 after purchasing an additional 201 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Waste Management in the fourth quarter valued at about $387,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Transactions at Waste Management

In other Waste Management news, 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 sale, the chief financial officer directly owned 83,934 shares of the company's stock, 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 can be accessed through this link. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WM shares. Oppenheimer lifted their price target on Waste Management from $255.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Citigroup raised their target price on shares of Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. UBS Group raised their target price on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. Finally, BMO Capital Markets raised their target price on shares of Waste Management from $241.00 to $245.00 and gave the stock a "market perform" rating in a report on Wednesday, June 25th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and a consensus price target of $251.29.

Waste Management Stock Up 0.6%

Shares of WM stock traded up $1.43 on Friday, hitting $227.13. The company's stock had a trading volume of 1,996,375 shares, compared to its average volume of 1,636,582. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58. The firm's fifty day moving average price is $231.54 and its 200-day moving average price is $226.55. The stock has a market capitalization of $91.40 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.82 and a beta of 0.64.

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

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.825 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. Waste Management's payout ratio is currently 49.77%.

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.