Thrivent Financial for Lutherans Raises Stock Holdings in Waste Management, Inc. $WM

Thrivent Financial for Lutherans grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 18.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 68,661 shares of the business services provider’s stock after buying an additional 10,746 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Waste Management were worth $15,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WM. Elevated Capital Advisors LLC bought a new stake in Waste Management in the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its holdings in shares of Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares during the period. JPL Wealth Management LLC bought a new position in shares of Waste Management during the 3rd quarter valued at $30,000. Kelleher Financial Advisors purchased a new position in shares of Waste Management in the 4th quarter worth $31,000. Finally, Holos Integrated Wealth LLC bought a new stake in shares of Waste Management in the fourth quarter worth $40,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of WM opened at $222.78 on Tuesday. The business has a 50-day simple moving average of $228.75 and a two-hundred day simple moving average of $223.12. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The stock has a market cap of $89.46 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 2.30 and a beta of 0.49.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 EPS. On average, analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management’s dividend payout ratio is presently 54.70%.

Insider Activity

In other news, SVP Tara J. Hemmer sold 4,818 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the sale, the senior vice president directly owned 78,918 shares in the company, valued at $19,084,739.94. This trade represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares of the company’s stock, valued at $10,674,944.26. This represents a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 35,296 shares of company stock valued at $8,569,283. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on WM shares. Oppenheimer increased their target price on Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Robert W. Baird upped their price target on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Royal Bank Of Canada increased their price objective on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Wolfe Research began coverage on shares of Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Finally, TD Cowen increased their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.67.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.