Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in Waste Management, Inc. (NYSE:WM) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,804 shares of the business services provider’s stock after selling 5,655 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Waste Management were worth $5,382,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp increased its stake in shares of Waste Management by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 278,733 shares of the business services provider’s stock valued at $20,325,000 after buying an additional 11,138 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Waste Management by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,299 shares of the business services provider’s stock valued at $1,013,000 after buying an additional 670 shares in the last quarter. World Asset Management Inc increased its stake in shares of Waste Management by 17.2% in the first quarter. World Asset Management Inc now owns 45,871 shares of the business services provider’s stock valued at $3,345,000 after buying an additional 6,748 shares in the last quarter. FMR LLC increased its stake in shares of Waste Management by 450.1% in the fourth quarter. FMR LLC now owns 1,166,861 shares of the business services provider’s stock valued at $82,743,000 after buying an additional 954,745 shares in the last quarter. Finally, Willingdon Wealth Management increased its stake in shares of Waste Management by 12.2% in the first quarter. Willingdon Wealth Management now owns 18,294 shares of the business services provider’s stock valued at $1,334,000 after buying an additional 1,995 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.
Shares of Waste Management, Inc. (NYSE:WM) opened at 73.43 on Friday. The company has a 50 day moving average of $72.64 and a 200 day moving average of $71.79. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $74.58. The stock has a market capitalization of $32.45 billion, a price-to-earnings ratio of 26.79 and a beta of 0.71.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 26th. The business services provider reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. Waste Management’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 earnings per share. Analysts predict that Waste Management, Inc. will post $3.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were paid a $0.425 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.70 dividend on an annualized basis and a yield of 2.31%. Waste Management’s dividend payout ratio is currently 62.04%.
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WM has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Barclays PLC cut shares of Waste Management from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $73.00 in a report on Wednesday, March 1st. They noted that the move was a valuation call. Finally, KeyCorp lifted their target price on shares of Waste Management from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.01.
In related news, SVP Barry H. Caldwell sold 3,100 shares of Waste Management stock in a transaction dated Friday, April 7th. The stock was sold at an average price of $73.50, for a total value of $227,850.00. Following the transaction, the senior vice president now owns 48,813 shares of the company’s stock, valued at approximately $3,587,755.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Barry H. Caldwell sold 8,142 shares of Waste Management stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $73.52, for a total value of $598,599.84. Following the completion of the transaction, the senior vice president now directly owns 35,916 shares in the company, valued at approximately $2,640,544.32. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $1,331,990 in the last three months. 0.19% of the stock is currently owned by company insiders.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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