Robeco Schweiz AG Boosts Holdings in Waste Management, Inc. (NYSE:WM)

by · The Cerbat Gem

Robeco Schweiz AG lifted its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 360,350 shares of the business services provider’s stock after purchasing an additional 59,703 shares during the period. Waste Management accounts for about 2.1% of Robeco Schweiz AG’s investment portfolio, making the stock its 11th biggest holding. Robeco Schweiz AG’s holdings in Waste Management were worth $83,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider’s stock worth $183,000 after acquiring an additional 232 shares in the last quarter. Calamos Advisors LLC boosted its stake in Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider’s stock worth $65,633,000 after acquiring an additional 7,751 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider’s stock worth $137,108,000 after acquiring an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after acquiring an additional 958 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares of the company’s stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WM. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. BMO Capital Markets increased their price objective on shares of Waste Management from $241.00 to $245.00 and gave the company a “market perform” rating in a research report on Wednesday, June 25th. Oppenheimer increased their price objective on shares of Waste Management from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday. CIBC increased their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Finally, National Bank Financial upgraded shares of Waste Management to a “hold” rating in a research report on Monday, May 26th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $251.29.

Read Our Latest Research Report on Waste Management

Waste Management Stock Down 0.1%

Shares of WM stock opened at $225.54 on Friday. The company has a 50 day simple moving average of $232.44 and a two-hundred day simple moving average of $225.44. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. The stock has a market cap of $90.76 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.99 and a beta of 0.64. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58.

Waste Management (NYSE:WM – Get Free Report) last posted its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.14 billion. During the same period last year, the company posted $1.75 earnings per share. Waste Management’s quarterly revenue was up 16.7% on a year-over-year basis. On average, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.46%. Waste Management’s dividend payout ratio (DPR) is currently 49.77%.

About Waste Management

(Free Report)

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.

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