Xact Kapitalforvaltning AB raised its stake in Waste Management, Inc. (NYSE:WM) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,759 shares of the business services provider’s stock after acquiring an additional 3,945 shares during the period. Xact Kapitalforvaltning AB’s holdings in Waste Management were worth $5,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Gables Capital Management Inc. acquired a new stake in shares of Waste Management during the first quarter worth about $102,000. Bruderman Asset Management LLC acquired a new stake in shares of Waste Management during the first quarter worth about $127,000. Rainier Group Investment Advisory LLC acquired a new stake in shares of Waste Management during the first quarter worth about $135,000. Stelac Advisory Services LLC acquired a new stake in shares of Waste Management during the first quarter worth about $160,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of Waste Management during the first quarter worth about $168,000. Institutional investors own 74.99% of the company’s stock.
In other Waste Management news, SVP Nikolaj H. Sjoqvist sold 307 shares of the stock in a transaction dated Monday, April 9th. The shares were sold at an average price of $84.76, for a total value of $26,021.32. Following the completion of the transaction, the senior vice president now directly owns 18,756 shares of the company’s stock, valued at $1,589,758.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Barry H. Caldwell sold 10,844 shares of the stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $84.00, for a total transaction of $910,896.00. Following the completion of the transaction, the senior vice president now directly owns 31,447 shares of the company’s stock, valued at $2,641,548. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Friday, April 20th. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.09. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a net margin of 14.06% and a return on equity of 26.73%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. sell-side analysts anticipate that Waste Management, Inc. will post 4.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, June 8th will be given a $0.465 dividend. The ex-dividend date is Thursday, June 7th. This represents a $1.86 dividend on an annualized basis and a yield of 2.29%. Waste Management’s payout ratio is currently 57.76%.
Several equities research analysts have recently weighed in on WM shares. BMO Capital Markets decreased their target price on shares of Waste Management from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, April 20th. UBS Group started coverage on shares of Waste Management in a research note on Wednesday, March 14th. They set a “neutral” rating and a $93.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $90.89.
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.
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