Shell Asset Management Co. Acquires 2,795 Shares of Waste Management, Inc. (WM)

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Shell Asset Management Co. grew its holdings in Waste Management, Inc. (NYSE:WM) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 150,243 shares of the business services provider’s stock after purchasing an additional 2,795 shares during the quarter. Shell Asset Management Co.’s holdings in Waste Management were worth $15,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Waste Management by 3.3% in the fourth quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock valued at $2,817,372,000 after purchasing an additional 1,025,813 shares during the period. Parnassus Investments CA raised its holdings in Waste Management by 1.3% in the fourth quarter. Parnassus Investments CA now owns 5,879,967 shares of the business services provider’s stock valued at $523,258,000 after acquiring an additional 73,432 shares in the last quarter. Geode Capital Management LLC raised its holdings in Waste Management by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after acquiring an additional 326,408 shares in the last quarter. Northern Trust Corp raised its holdings in Waste Management by 3.8% in the fourth quarter. Northern Trust Corp now owns 5,024,041 shares of the business services provider’s stock valued at $447,089,000 after acquiring an additional 182,007 shares in the last quarter. Finally, Norges Bank acquired a new stake in Waste Management in the fourth quarter valued at approximately $402,210,000. 74.16% of the stock is owned by institutional investors and hedge funds.

WM stock opened at $108.43 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.66 and a current ratio of 0.69. Waste Management, Inc. has a twelve month low of $79.96 and a twelve month high of $109.99. The company has a market cap of $46.06 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 2.96 and a beta of 0.67.

Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. As a group, analysts predict that Waste Management, Inc. will post 4.32 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.5125 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.89%. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.

WM has been the topic of several analyst reports. Argus raised their target price on shares of Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating in a report on Monday, April 15th. UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and raised their target price for the company from $103.00 to $106.00 in a report on Thursday, April 4th. Oppenheimer raised their target price on shares of Waste Management from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, KeyCorp initiated coverage on shares of Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.22.

In other news, VP Michael J. Watson sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total transaction of $73,185.00. Following the transaction, the vice president now directly owns 9,518 shares in the company, valued at $995,106.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Morris sold 42,795 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the transaction, the executive vice president now owns 101,332 shares in the company, valued at $10,779,698.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,811 shares of company stock worth $4,657,346. Insiders own 0.14% of the company’s stock.

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Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

Further Reading: Buy-Side Analysts

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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