Oakbrook Investments LLC Buys New Position in Waste Management, Inc. (WM)

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Oakbrook Investments LLC bought a new position in Waste Management, Inc. (NYSE:WM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,375 shares of the business services provider’s stock, valued at approximately $2,948,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WM. Norges Bank bought a new stake in shares of Waste Management during the fourth quarter worth approximately $402,210,000. Oregon Public Employees Retirement Fund raised its stake in shares of Waste Management by 8,644.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,823,989 shares of the business services provider’s stock worth $43,000 after buying an additional 3,780,259 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Waste Management by 695.7% during the fourth quarter. Bessemer Group Inc. now owns 1,337,530 shares of the business services provider’s stock worth $119,027,000 after buying an additional 1,169,429 shares during the last quarter. BlackRock Inc. raised its stake in shares of Waste Management by 3.3% during the fourth quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock worth $2,817,372,000 after buying an additional 1,025,813 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Waste Management by 33.9% during the fourth quarter. California Public Employees Retirement System now owns 2,519,189 shares of the business services provider’s stock worth $224,183,000 after buying an additional 637,655 shares during the last quarter. 75.74% of the stock is owned by institutional investors.

A number of research firms recently weighed in on WM. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $103.00 to $106.00 in a research note on Thursday, April 4th. Oppenheimer boosted their price target on shares of Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 15th. KeyCorp started coverage on shares of Waste Management in a research note on Monday, February 4th. They set an “overweight” rating and a $96.00 price target for the company. Finally, Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $101.71.

In other news, SVP Tara J. Hmmer sold 472 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $98.81, for a total value of $46,638.32. Following the completion of the transaction, the senior vice president now owns 17,208 shares in the company, valued at $1,700,322.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Devina A. Rankin sold 692 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $98.80, for a total transaction of $68,369.60. Following the completion of the transaction, the chief financial officer now owns 22,128 shares of the company’s stock, valued at approximately $2,186,246.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,727 shares of company stock valued at $368,692. Corporate insiders own 0.14% of the company’s stock.

NYSE WM traded up $0.71 during trading on Thursday, reaching $105.86. 32,608 shares of the stock traded hands, compared to its average volume of 1,841,737. The stock has a market cap of $44.66 billion, a P/E ratio of 25.18, a P/E/G ratio of 2.75 and a beta of 0.67. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85. Waste Management, Inc. has a fifty-two week low of $79.96 and a fifty-two week high of $105.68.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Analysts predict that Waste Management, Inc. will post 4.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.5125 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.05 dividend on an annualized basis and a yield of 1.94%. This is a boost from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s payout ratio is currently 48.81%.

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Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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