Swedbank AB Purchases 100,686 Shares of Waste Management, Inc. $WM
by Scott Moore · The Cerbat GemSwedbank AB grew its position in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,955,591 shares of the business services provider’s stock after buying an additional 100,686 shares during the period. Swedbank AB owned approximately 0.49% of Waste Management worth $431,853,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of WM. Saudi Central Bank bought a new stake in Waste Management in the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. bought a new stake in shares of Waste Management in the first quarter valued at approximately $38,000. Loomis Sayles & Co. L P bought a new position in Waste Management during the 2nd quarter worth $40,000. Wealth Watch Advisors INC bought a new position in Waste Management during the 2nd quarter worth $43,000. Finally, eCIO Inc. acquired a new position in Waste Management in the 1st quarter valued at $53,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.
Waste Management Price Performance
WM stock opened at $220.31 on Wednesday. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 34.69, a P/E/G ratio of 2.71 and a beta of 0.58. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The company has a 50 day simple moving average of $211.36 and a 200 day simple moving average of $220.72. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58.
Waste Management (NYSE:WM – Get Free Report) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The company had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 EPS. Research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.
Waste Management Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s dividend payout ratio is presently 51.97%.
Insider Buying and Selling
In other news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on WM shares. CIBC reduced their target price on Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. The Goldman Sachs Group began coverage on shares of Waste Management in a report on Monday, November 24th. They set a “buy” rating and a $256.00 price target for the company. Royal Bank Of Canada decreased their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Finally, National Bankshares lowered their price objective on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $248.95.
Check Out Our Latest Stock Report on Waste Management
Waste Management Company Profile
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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