Forsta AP Fonden Lowers Stake in Waste Management, Inc. (NYSE:WM)

Forsta AP Fonden trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 10.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 88,500 shares of the business services provider’s stock after selling 10,100 shares during the period. Forsta AP Fonden’s holdings in Waste Management were worth $18,881,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. DSM Capital Partners LLC purchased a new position in Waste Management during the 4th quarter worth $38,000. Dai ichi Life Insurance Company Ltd raised its holdings in Waste Management by 2.5% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock worth $31,124,000 after purchasing an additional 4,199 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Waste Management by 18.4% in the 4th quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock valued at $55,990,000 after purchasing an additional 48,549 shares in the last quarter. Trexquant Investment LP acquired a new position in Waste Management during the 4th quarter worth approximately $1,673,000. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Waste Management in the 4th quarter valued at approximately $4,993,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $207.86 on Friday. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The firm has a 50 day simple moving average of $209.29 and a 200-day simple moving average of $208.76. The firm has a market cap of $83.42 billion, a PE ratio of 34.02, a P/E/G ratio of 2.32 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the firm earned $1.51 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The business 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. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BMO Capital Markets dropped their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Oppenheimer reduced their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Robert W. Baird decreased their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Royal Bank of Canada dropped their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.