4,655,755 Shares in Waste Management, Inc. $WM Purchased by Norges Bank

by · The Cerbat Gem

Norges Bank purchased a new position in Waste Management, Inc. (NYSE:WM – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 4,655,755 shares of the business services provider’s stock, valued at approximately $1,022,916,000.

A number of other large investors also recently bought and sold shares of WM. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC grew its position in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. RHL Group LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new position in shares of Waste Management in the 3rd quarter worth approximately $30,000. Finally, Kelleher Financial Advisors acquired a new position in shares of Waste Management in the 4th quarter worth approximately $31,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 1.4%

Waste Management stock opened at $211.32 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm has a 50-day moving average price of $224.81 and a two-hundred day moving average price of $224.04. The firm has a market capitalization of $84.86 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 2.21 and a beta of 0.49. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM – Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period last year, the firm earned $1.67 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is currently 54.70%.

Analyst Ratings Changes

Several research analysts have recently commented on WM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a research report on Wednesday. Royal Bank Of Canada lifted their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Wolfe Research started coverage on Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Finally, Barclays upped their target price on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $255.67.

Get Our Latest Research Report on Waste Management

Insiders Place Their Bets

In related news, COO John J. Morris sold 4,211 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $243.38, for a total value of $1,024,873.18. Following the sale, the chief operating officer directly owned 99,929 shares in the company, valued at $24,320,720.02. This trade represents a 4.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Johnson Varkey sold 121 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,222 shares of company stock valued at $8,552,294 in the last quarter. 0.18% of the stock is owned by insiders.

Waste Management Company Profile

(Free Report)

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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