Waste Management, Inc. (NYSE:WM) Stake Reduced by Panagora Asset Management Inc.

Panagora Asset Management Inc. decreased its holdings in Waste Management, Inc. (NYSE:WMFree Report) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,794 shares of the business services provider’s stock after selling 617 shares during the quarter. Panagora Asset Management Inc.’s holdings in Waste Management were worth $1,217,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of WM. abrdn plc grew its stake in shares of Waste Management by 315.7% in the third quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after purchasing an additional 1,106,773 shares in the last quarter. Mirova US LLC grew its stake in shares of Waste Management by 26,116.4% in the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after purchasing an additional 910,418 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after purchasing an additional 776,491 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in shares of Waste Management by 128.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock valued at $137,012,000 after buying an additional 504,924 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 13,927.7% in the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after buying an additional 500,701 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John J. Morris sold 8,889 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the transaction, the executive vice president now owns 95,461 shares of the company’s stock, valued at approximately $19,804,339.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the transaction, the executive vice president now owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Morris sold 8,889 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $207.46, for a total value of $1,844,111.94. Following the transaction, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $2,390,951 in the last three months. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Raymond James upped their price objective on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, April 26th. BMO Capital Markets upped their price objective on Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Oppenheimer upped their target price on Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.61.

Get Our Latest Stock Analysis on Waste Management

Waste Management Stock Performance

Shares of WM stock opened at $209.97 on Thursday. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $214.54. The stock’s 50-day moving average is $209.55 and its two-hundred day moving average is $193.27. The firm has a market cap of $84.21 billion, a P/E ratio of 34.37, a PEG ratio of 2.71 and a beta of 0.72.

Waste Management (NYSE:WMGet Free Report) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm posted $1.31 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 7.29 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, June 7th. Waste Management’s payout ratio is currently 49.10%.

Waste Management Company Profile

(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.

Further Reading

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

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