Waste Management, Inc. (NYSE:WM) Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its position in Waste Management, Inc. (NYSE:WM) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,136 shares of the business services provider’s stock after purchasing an additional 865 shares during the period. 1832 Asset Management L.P.’s holdings in Waste Management were worth $4,505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Waste Management during the 4th quarter worth $784,486,000. Sustainable Growth Advisers LP acquired a new stake in shares of Waste Management in the first quarter valued at $300,594,000. Capital World Investors lifted its holdings in shares of Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares during the period. Mirova US LLC lifted its holdings 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 valued at $163,680,000 after buying an additional 910,418 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of Waste Management in the first quarter valued at $117,299,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WM. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Oppenheimer reduced their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Robert W. Baird reduced their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Raymond James increased their price objective on Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $215.83.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Trading Down 1.5 %

Shares of WM stock traded down $2.96 on Friday, reaching $196.96. 2,500,282 shares of the stock were exchanged, compared to its average volume of 1,486,250. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 0.85. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The stock has a 50 day moving average price of $209.51 and a 200 day moving average price of $204.86. The stock has a market cap of $79.00 billion, a PE ratio of 32.24, a P/E/G ratio of 2.32 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 earnings per share. Equities research analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.52%. Waste Management’s payout ratio is presently 49.10%.

Waste Management Company 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.