Waste Management, Inc. (NYSE:WM) Holdings Raised by AMF Tjanstepension AB

AMF Tjanstepension AB boosted its stake in Waste Management, Inc. (NYSE:WM) by 82.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,295,517 shares of the business services provider’s stock after buying an additional 584,459 shares during the quarter. Waste Management makes up about 2.1% of AMF Tjanstepension AB’s holdings, making the stock its 11th biggest position. AMF Tjanstepension AB owned approximately 0.32% of Waste Management worth $224,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in Waste Management by 30.4% in the 4th quarter. Morgan Stanley now owns 7,370,481 shares of the business services provider’s stock worth $1,156,281,000 after buying an additional 1,718,449 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Waste Management by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 7,024,158 shares of the business services provider’s stock valued at $1,099,729,000 after purchasing an additional 34,007 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Waste Management by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 5,728,930 shares of the business services provider’s stock valued at $935,111,000 after purchasing an additional 45,109 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Waste Management by 3.2% during the 4th quarter. Lazard Asset Management LLC now owns 5,112,019 shares of the business services provider’s stock valued at $801,972,000 after purchasing an additional 160,466 shares in the last quarter. Finally, Providence Capital Advisors LLC bought a new position in shares of Waste Management during the 1st quarter valued at $29,700,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.

Waste Management Price Performance

Shares of Waste Management stock opened at $160.79 on Thursday. Waste Management, Inc. has a twelve month low of $148.31 and a twelve month high of $173.71. The firm has a market cap of $65.13 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 2.66 and a beta of 0.72. The firm’s 50-day simple moving average is $162.62 and its 200-day simple moving average is $162.25. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.78 and a current ratio of 0.82.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.03). Waste Management had a net margin of 11.42% and a return on equity of 33.81%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, research analysts expect that Waste Management, Inc. will post 5.96 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio is presently 50.36%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Waste Management in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Raymond James lowered their target price on shares of Waste Management from $185.00 to $179.00 and set an “outperform” rating on the stock in a research note on Thursday, July 27th. Citigroup lowered their target price on shares of Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. Finally, BMO Capital Markets lowered their target price on shares of Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.18.

Insiders Place Their Bets

In other Waste Management news, Director Bruce E. Chinn sold 172 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total value of $27,423.68. Following the completion of the transaction, the director now directly owns 822 shares of the company’s stock, valued at $131,059.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Bruce E. Chinn sold 172 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total transaction of $27,423.68. Following the completion of the sale, the director now directly owns 822 shares of the company’s stock, valued at $131,059.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Pope sold 198 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $168.40, for a total transaction of $33,343.20. Following the sale, the director now directly owns 56,147 shares of the company’s stock, valued at $9,455,154.80. The disclosure for this sale can be found here. Insiders own 0.27% 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.