Candriam S.C.A. Has $135.29 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Candriam S.C.A. cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 634,190 shares of the business services provider’s stock after selling 5,606 shares during the quarter. Waste Management comprises 0.8% of Candriam S.C.A.’s investment portfolio, making the stock its 21st largest holding. Candriam S.C.A. owned approximately 0.16% of Waste Management worth $135,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WM. Norges Bank bought a new position in Waste Management in the fourth quarter worth $784,486,000. Sustainable Growth Advisers LP bought a new position in shares of Waste Management during the 1st quarter worth about $300,594,000. Capital World Investors boosted its position in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB bought a new stake in Waste Management in the first quarter valued at about $193,955,000. Finally, AMF Tjanstepension AB raised its position in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after purchasing an additional 720,358 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $204.74 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company has a market capitalization of $82.12 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 2.34 and a beta of 0.74. The business’s 50-day moving average price is $209.43 and its two-hundred day moving average price is $208.68. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.51 EPS. Equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WM shares. CIBC dropped their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. BMO Capital Markets decreased their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird cut their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

About Waste Management

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.