Assenagon Asset Management S.A. Has $195.69 Million Holdings in Waste Management, Inc. $WM

Assenagon Asset Management S.A. increased its holdings in Waste Management, Inc. (NYSE:WM) by 982.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 886,164 shares of the business services provider’s stock after purchasing an additional 804,285 shares during the period. Assenagon Asset Management S.A. owned approximately 0.22% of Waste Management worth $195,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC raised its stake in shares of Waste Management by 3.1% in the 2nd quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after buying an additional 1,698 shares in the last quarter. GPM Growth Investors Inc. increased its stake in Waste Management by 50.6% in the second quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after acquiring an additional 5,588 shares during the period. Truist Financial Corp raised its position in Waste Management by 62.9% in the second quarter. Truist Financial Corp now owns 268,033 shares of the business services provider’s stock worth $61,331,000 after purchasing an additional 103,487 shares in the last quarter. Machina Capital S.A.S. bought a new position in Waste Management during the second quarter worth about $4,361,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Waste Management during the second quarter valued at approximately $6,865,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

WM opened at $219.00 on Wednesday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The stock has a market capitalization of $88.23 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.69 and a beta of 0.58. The company’s 50 day simple moving average is $211.30 and its 200-day simple moving average is $221.44. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s payout ratio is currently 51.97%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WM shares. DZ Bank initiated coverage on Waste Management in a research report on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, December 1st. National Bankshares reduced their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Sanford C. Bernstein initiated coverage on shares of Waste Management in a report on Wednesday, November 12th. They set an “outperform” rating and a $255.00 price target for the company. Finally, CIBC reduced their price target on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.18.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares in the company, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.