Leonteq Securities AG Invests $3.42 Million in Waste Management, Inc. $WM

Leonteq Securities AG purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,576 shares of the business services provider’s stock, valued at approximately $3,422,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Waste Management by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after buying an additional 553,605 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Waste Management by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock valued at $1,250,613,000 after purchasing an additional 277,250 shares during the period. Northern Trust Corp grew its holdings in Waste Management by 0.3% in the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider’s stock valued at $873,276,000 after purchasing an additional 11,688 shares during the period. Nordea Investment Management AB grew its holdings in Waste Management by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 3,530,900 shares of the business services provider’s stock valued at $781,494,000 after purchasing an additional 236,439 shares during the period. Finally, Sustainable Growth Advisers LP grew its holdings in Waste Management by 12.6% in the third quarter. Sustainable Growth Advisers LP now owns 3,262,148 shares of the business services provider’s stock valued at $720,380,000 after purchasing an additional 364,512 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Michael J. Watson sold 17,251 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the transaction, the vice president directly owned 44,146 shares of the company’s stock, valued at approximately $10,674,944.26. The trade was a 28.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tara J. Hemmer sold 4,818 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the transaction, the senior vice president directly owned 78,918 shares in the company, valued at approximately $19,084,739.94. The trade was a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 35,296 shares of company stock valued at $8,569,283. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

WM opened at $219.37 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The company has a 50 day moving average of $227.72 and a two-hundred day moving average of $223.42. The company has a market cap of $88.10 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.32 and a beta of 0.49.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. Waste Management’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management’s payout ratio is currently 54.70%.

Wall Street Analyst Weigh In

WM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Robert W. Baird boosted their target price on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. TD Cowen boosted their target price on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Barclays boosted their target price on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company lowered their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $255.67.

Waste Management 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.