Tredje AP fonden Has $56.97 Million Stake in Waste Management, Inc. (NYSE:WM)

Tredje AP fonden grew its position in shares of Waste Management, Inc. (NYSE:WM) by 214.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,063 shares of the business services provider’s stock after buying an additional 167,851 shares during the quarter. Tredje AP fonden’s holdings in Waste Management were worth $56,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Westend Capital Management LLC lifted its position in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Waste Management during the 4th quarter worth about $28,000. West Branch Capital LLC increased its stake in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after purchasing an additional 49 shares during the period. Hurley Capital LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $34,000. Finally, Adalta Capital Management LLC acquired a new position in shares of Waste Management during the 4th quarter worth approximately $40,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised shares of Waste Management from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. National Bank Financial raised shares of Waste Management to a “hold” rating in a research report on Monday, May 26th. Seaport Res Ptn raised Waste Management to a “hold” rating in a research note on Tuesday, May 6th. Finally, Melius assumed coverage on Waste Management in a report on Monday, June 9th. They issued a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.41.

Waste Management Stock Up 3.4%

NYSE WM opened at $235.65 on Wednesday. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The firm has a market cap of $94.83 billion, a PE ratio of 34.96, a P/E/G ratio of 2.82 and a beta of 0.64. The business’s fifty day simple moving average is $231.77 and its 200-day simple moving average is $227.79. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65.

Waste Management (NYSE:WM) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 35.31% and a net margin of 11.36%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business posted $1.82 EPS. Waste Management’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.825 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.40%. Waste Management’s dividend payout ratio is currently 48.96%.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The shares were 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 in the company, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $13,740,295.68. Following the completion of the sale, the chief financial officer owned 83,934 shares of the company’s stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Waste Management Profile

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.