Waste Management, Inc. $WM Shares Bought by DNB Asset Management AS

Key Points

• DNB Asset Management AS boosted its Waste Management stake by 245.2% in the fourth quarter, owning 528,562 shares worth about $116.1 million after the purchase.
• Waste Management reported Q1 earnings of $1.81 per share, topping estimates, while revenue reached $6.23 billion and rose 3.5% from a year earlier.
• The company declared a quarterly dividend of $0.945 per share, implying an annualized payout of $3.78 and a 1.7% yield.

DNB Asset Management AS raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 245.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 528,562 shares of the business services provider's stock after acquiring an additional 375,451 shares during the period. DNB Asset Management AS owned 0.13% of Waste Management worth $116,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Elevated Capital Advisors LLC acquired a new position in Waste Management in the fourth quarter valued at $25,000. Cornerstone Planning Group LLC boosted its stake in shares of Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock worth $29,000 after buying an additional 67 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Waste Management during the third quarter worth about $30,000. Kelleher Financial Advisors acquired a new stake in shares of Waste Management during the fourth quarter worth about $31,000. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Trading Up 0.5%

NYSE WM opened at $219.84 on Friday. The stock has a market capitalization of $88.28 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.29 and a beta of 0.49. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The firm has a 50-day moving average price of $229.21 and a 200 day moving average price of $222.92. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22.

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

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a $0.945 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. Waste Management's dividend payout ratio (DPR) is 54.70%.

Insider Buying and Selling

In other Waste Management news, VP Donald J. Smith sold 12,194 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total value of $2,847,055.12. Following the completion of the transaction, the vice president directly owned 6,024 shares of the company's stock, valued at approximately $1,406,483.52. This trade represents a 66.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael J. Watson sold 17,251 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares of the company's stock, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,490 shares of company stock valued at $11,416,338 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WM. Royal Bank Of Canada increased their target price on shares of Waste Management from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 30th. Wells Fargo & Company decreased their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Oppenheimer increased their target price on shares of Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. Stifel Nicolaus increased their target price on shares of Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Weiss Ratings raised shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.67.

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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