Avanza Fonder AB Increases Stake in Waste Management, Inc. $WM

Avanza Fonder AB lifted its position in Waste Management, Inc. (NYSE:WM) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,142 shares of the business services provider’s stock after acquiring an additional 2,548 shares during the quarter. Avanza Fonder AB’s holdings in Waste Management were worth $8,865,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WM. Norges Bank purchased a new stake in shares of Waste Management in the 2nd quarter worth approximately $1,064,206,000. Vontobel Holding Ltd. raised its stake in Waste Management by 444.3% in the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after buying an additional 1,800,728 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Waste Management by 15,782.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after buying an additional 1,717,603 shares during the period. Sustainable Growth Advisers LP boosted its position in Waste Management by 55.5% during the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock valued at $663,037,000 after acquiring an additional 1,034,258 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Waste Management by 982.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock worth $195,692,000 after acquiring an additional 804,285 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.5%

NYSE:WM opened at $221.39 on Friday. The company has a market capitalization of $89.19 billion, a P/E ratio of 34.86, a PEG ratio of 2.73 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58. The firm has a fifty day simple moving average of $211.68 and a 200-day simple moving average of $220.73.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the business earned $1.96 EPS. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.825 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s dividend payout ratio is currently 51.97%.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WM. Morgan Stanley dropped their price objective on Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Truist Financial set a $260.00 price objective on shares of Waste Management in a research report on Wednesday, October 29th. Cowen reiterated a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. The Goldman Sachs Group started coverage on shares of Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 target price for the company. Finally, UBS Group reduced their price target on Waste Management from $240.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.95.

Waste Management Company 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.