Waste Management, Inc. $WM Shares Acquired by ASR Vermogensbeheer N.V.

Key Points

• Institutional ownership increased: ASR Vermogensbeheer N.V. boosted its Waste Management stake by 17.8% in the fourth quarter, while institutional investors and hedge funds now own about 80.4% of the stock.
• Quarterly results beat EPS estimates: Waste Management reported earnings of $1.81 per share versus expectations of $1.75, though revenue of $6.23 billion came in slightly below forecasts.
• Dividend and analyst outlook remain supportive: The company raised its quarterly dividend to $0.945 per share, and analysts currently rate the stock as a Moderate Buy with an average price target of $255.67.

ASR Vermogensbeheer N.V. lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 48,837 shares of the business services provider's stock after acquiring an additional 7,397 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Waste Management were worth $10,730,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WM. Elevated Capital Advisors LLC acquired a new position in Waste Management in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its holdings in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after buying an additional 67 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Waste Management in the third quarter valued at approximately $30,000. Kelleher Financial Advisors purchased a new position in Waste Management in the 4th quarter valued at approximately $31,000. Finally, Holos Integrated Wealth LLC purchased a new position in Waste Management during the fourth quarter worth $40,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WM shares. Wolfe Research assumed coverage on Waste Management in a research report on Friday, March 13th. They set a "peer perform" rating for the company. Citigroup decreased their target price on Waste Management from $270.00 to $263.00 and set a "buy" rating for the company in a research report on Friday, January 16th. Wells Fargo & Company reduced their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Scotiabank restated a "sector perform" rating and set a $250.00 price objective (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada raised their price target on Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $255.67.

Waste Management Trading Down 2.8%

NYSE WM opened at $215.18 on Friday. The firm has a market cap of $86.41 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.32 and a beta of 0.49. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The stock's 50-day moving average is $231.84 and its 200-day moving average is $222.91.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $6.28 billion. During the same period in the prior year, the firm earned $1.67 earnings per share. Waste Management's revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Waste Management's previous quarterly dividend of $0.83. Waste Management's payout ratio is presently 54.70%.

Insider Activity

In related news, SVP Rafael Carrasco sold 7,352 shares of the business's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $234.50, for a total transaction of $1,724,044.00. Following the sale, the senior vice president owned 15,540 shares in the company, valued at $3,644,130. The trade was a 32.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the sale, the vice president directly owned 44,146 shares in the company, valued at $10,674,944.26. The trade was a 28.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 91,959 shares of company stock worth $21,698,005. Corporate insiders own 0.18% of the company's stock.

Waste Management Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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