Danske Bank A S Makes New Investment in Waste Management, Inc. $WM

Danske Bank A S purchased a new stake in Waste Management, Inc. (NYSE:WM) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 326,063 shares of the business services provider’s stock, valued at approximately $72,004,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cornercap Investment Counsel Inc. acquired a new position in Waste Management during the third quarter valued at approximately $1,583,000. Lockheed Martin Investment Management Co. acquired a new position in shares of Waste Management during the 3rd quarter valued at $3,092,000. Guerra Advisors Inc increased its holdings in Waste Management by 59.5% in the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock valued at $1,996,000 after purchasing an additional 3,371 shares in the last quarter. Compass Wealth Management LLC lifted its stake in shares of Waste Management by 537.0% during the third quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider’s stock worth $21,138,000 after purchasing an additional 80,695 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Waste Management by 19.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider’s stock worth $15,301,000 after buying an additional 11,135 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 transaction of $2,847,055.12. Following the transaction, the vice president 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 document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of Waste Management stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $241.81, for a total value of $4,171,464.31. Following the completion of the transaction, the vice president owned 44,146 shares of the company’s stock, valued at $10,674,944.26. This trade represents a 28.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 98,042 shares of company stock worth $23,039,777. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DZ Bank assumed coverage on Waste Management in a report on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price on the stock. Royal Bank Of Canada increased their price objective on shares of Waste Management from $223.00 to $235.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $225.00 to $260.00 in a research note on Friday, January 9th. Wells Fargo & Company upped their target price on shares of Waste Management from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, TD Cowen raised their price target on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.55.

Waste Management Stock Performance

Shares of WM opened at $236.00 on Wednesday. The firm has a market cap of $95.19 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.50 and a beta of 0.57. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The business’s 50 day moving average is $230.50 and its two-hundred day moving average is $220.47. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.70 EPS. Analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Waste Management’s previous quarterly dividend of $0.83. Waste Management’s payout ratio is presently 56.42%.

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.