Waste Management, Inc. $WM Shares Bought by Avanza Fonder AB

Avanza Fonder AB lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,061 shares of the business services provider’s stock after buying an additional 4,919 shares during the quarter. Avanza Fonder AB’s holdings in Waste Management were worth $9,900,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its holdings in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 67 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Waste Management during the 3rd quarter worth approximately $30,000. Loomis Sayles & Co. L P acquired a new position in Waste Management during the second quarter worth approximately $40,000. Holos Integrated Wealth LLC purchased a new stake in Waste Management in the fourth quarter valued at approximately $40,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Waste Management in the third quarter valued at approximately $41,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM opened at $227.60 on Tuesday. The stock has a market capitalization of $91.80 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.44 and a beta of 0.57. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company’s fifty day moving average is $231.56 and its two-hundred day moving average is $220.65.

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

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.945 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. This is a boost from Waste Management’s previous quarterly dividend of $0.83. Waste Management’s dividend payout ratio is presently 56.42%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Scotiabank restated a “sector perform” rating and set a $250.00 target price (down from $254.00) on shares of Waste Management in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Wolfe Research started coverage on shares of Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Citigroup reduced their target price on shares of Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. Finally, TD Cowen increased their target price on shares of Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $254.59.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 17,251 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was 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 of the company’s stock, valued at approximately $10,674,944.26. This represents a 28.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Donald J. Smith sold 12,194 shares of Waste Management stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total value of $2,847,055.12. Following the completion of the sale, the vice president owned 6,024 shares in the company, valued at approximately $1,406,483.52. This trade represents a 66.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,042 shares of company stock worth $23,039,777 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

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.