DNB Asset Management AS Raises Holdings in Waste Management, Inc. $WM

DNB Asset Management AS lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 245.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 528,562 shares of the business services provider’s stock after purchasing an additional 375,451 shares during the period. DNB Asset Management AS’s holdings in Waste Management were worth $116,130,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lockheed Martin Investment Management Co. acquired a new stake in Waste Management during the third quarter worth approximately $3,092,000. Guerra Advisors Inc boosted its position in Waste Management by 59.5% during the third quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after acquiring an additional 3,371 shares during the last quarter. Capital Advisors Inc. OK boosted its position in Waste Management by 2.0% during the fourth quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider’s stock worth $43,192,000 after acquiring an additional 3,880 shares during the last quarter. Compass Wealth Management LLC boosted its position in 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 acquiring an additional 80,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Waste Management by 19.1% during 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 acquiring an additional 11,135 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO John J. Morris sold 7,979 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $245.07, for a total value of $1,955,413.53. Following the transaction, the chief operating officer owned 98,656 shares of the company’s stock, valued at approximately $24,177,625.92. This trade represents a 7.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael J. Watson sold 17,251 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $10,674,944.26. This represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 47,490 shares of company stock worth $11,416,338. 0.18% of the stock is owned by company insiders.

Waste Management Stock Up 0.5%

Shares of WM opened at $219.84 on Friday. The firm has a market cap of $88.28 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.29 and a beta of 0.49. The company’s fifty day moving average is $229.21 and its two-hundred day moving average is $222.92. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. 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) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. Waste Management’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $1.67 EPS. Analysts forecast that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Stifel Nicolaus raised their target price on shares of Waste Management from $236.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wells Fargo & Company decreased their target price 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. JPMorgan Chase & Co. raised their target price on shares of Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, Royal Bank Of Canada lifted their price target on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.67.

About Waste Management

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.