Shell Asset Management Co. Sells 1,753 Shares of Waste Management, Inc. (NYSE:WM)

Shell Asset Management Co. decreased its position in shares of Waste Management, Inc. (NYSE:WMFree Report) by 15.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,499 shares of the business services provider’s stock after selling 1,753 shares during the quarter. Shell Asset Management Co.’s holdings in Waste Management were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Waste Management in the 4th quarter worth approximately $784,486,000. Mirova US LLC boosted its position in shares of Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after acquiring an additional 910,418 shares during the last quarter. Capital World Investors grew its stake in Waste Management by 40.6% during the fourth quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock valued at $523,581,000 after acquiring an additional 844,298 shares in the last quarter. Nordea Investment Management AB increased its holdings in Waste Management by 16.9% in the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after acquiring an additional 776,491 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in Waste Management by 128.2% in the 3rd quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock worth $137,012,000 after purchasing an additional 504,924 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

WM opened at $201.71 on Tuesday. The business has a fifty day moving average of $207.77 and a 200 day moving average of $196.56. The stock has a market cap of $80.90 billion, a P/E ratio of 33.01, a PEG ratio of 2.33 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54.

Waste Management (NYSE:WMGet Free Report) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, June 7th. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WM. Royal Bank of Canada raised their price objective on Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Oppenheimer upped their price objective on Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their target price on shares of Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, Raymond James increased their price objective on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average price target of $217.61.

Check Out Our Latest Analysis on Waste Management

Waste Management Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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