Tredje AP fonden Sells 1,857 Shares of Waste Management, Inc. (NYSE:WM)

Tredje AP fonden lowered its stake in Waste Management, Inc. (NYSE:WM) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,000 shares of the business services provider’s stock after selling 1,857 shares during the period. Tredje AP fonden’s holdings in Waste Management were worth $9,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WM. DSM Capital Partners LLC purchased a new position in Waste Management in the 4th quarter worth approximately $38,000. Dai ichi Life Insurance Company Ltd boosted its position in Waste Management by 2.5% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock valued at $31,124,000 after buying an additional 4,199 shares during the period. Wellington Management Group LLP grew 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 worth $55,990,000 after acquiring an additional 48,549 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Waste Management in the fourth quarter valued at about $1,673,000. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Waste Management during the fourth quarter worth about $4,993,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of Waste Management stock opened at $203.14 on Wednesday. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00. The firm’s 50-day moving average is $209.06 and its 200 day moving average is $208.78. The stock has a market cap of $81.48 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.33 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 results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WM shares. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. CIBC decreased 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 report on Friday, July 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Finally, Oppenheimer cut their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Company 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.