Shell Asset Management Co. Decreases Stake in Waste Management, Inc. (NYSE:WM)

Shell Asset Management Co. lowered its stake in Waste Management, Inc. (NYSE:WMGet Rating) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,741 shares of the business services provider’s stock after selling 610 shares during the period. Shell Asset Management Co.’s holdings in Waste Management were worth $593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Waste Management by 1.4% during the fourth quarter. BlackRock Inc. now owns 29,941,759 shares of the business services provider’s stock worth $4,997,279,000 after purchasing an additional 407,039 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Waste Management by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,612,143 shares of the business services provider’s stock worth $1,100,331,000 after purchasing an additional 143,649 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Waste Management by 4.2% during the first quarter. Nordea Investment Management AB now owns 5,533,636 shares of the business services provider’s stock worth $889,809,000 after purchasing an additional 221,439 shares during the last quarter. Norges Bank purchased a new position in shares of Waste Management during the fourth quarter worth $687,551,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Waste Management by 5.4% during the fourth quarter. Alliancebernstein L.P. now owns 3,031,198 shares of the business services provider’s stock worth $505,907,000 after purchasing an additional 155,201 shares during the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.

Waste Management Stock Down 0.0 %

Shares of NYSE WM opened at $163.33 on Wednesday. The company’s 50-day simple moving average is $153.48 and its 200-day simple moving average is $153.78. Waste Management, Inc. has a 52-week low of $138.58 and a 52-week high of $170.18. The firm has a market cap of $67.51 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 2.53 and a beta of 0.78. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.95.

Waste Management (NYSE:WMGet Rating) last announced its earnings results on Wednesday, July 27th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.08. Waste Management had a net margin of 11.27% and a return on equity of 30.69%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter last year, the business earned $1.27 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts predict that Waste Management, Inc. will post 5.69 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $0.65 per share. The ex-dividend date was Thursday, June 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.59%. Waste Management’s payout ratio is presently 50.78%.

Insider Buying and Selling

In related news, Director John C. Pope sold 219 shares of the business’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $152.19, for a total transaction of $33,329.61. Following the transaction, the director now directly owns 55,439 shares in the company, valued at $8,437,261.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Waste Management from $157.00 to $167.00 in a report on Thursday, April 28th. Bank of America raised shares of Waste Management from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $155.00 to $165.00 in a report on Friday, May 13th. Oppenheimer set a $160.00 price objective on shares of Waste Management in a report on Tuesday, July 19th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. Finally, Royal Bank of Canada reaffirmed a “maintains” rating on shares of Waste Management in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.57.

Waste Management Company Profile

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Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, 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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