Waste Management, Inc. (NYSE:WM) Shares Sold by PGGM Investments

PGGM Investments trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 14.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,469 shares of the business services provider’s stock after selling 2,539 shares during the period. PGGM Investments’ holdings in Waste Management were worth $3,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of WM. Essex Savings Bank purchased a new stake in shares of Waste Management in the fourth quarter valued at about $236,000. TIAA Trust National Association grew its holdings in shares of Waste Management by 0.8% in the fourth quarter. TIAA Trust National Association now owns 18,709 shares of the business services provider’s stock valued at $3,351,000 after purchasing an additional 156 shares during the period. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at about $202,000. DAVENPORT & Co LLC grew its holdings in shares of Waste Management by 6.5% in the fourth quarter. DAVENPORT & Co LLC now owns 30,526 shares of the business services provider’s stock valued at $5,467,000 after purchasing an additional 1,851 shares during the period. Finally, Trust Point Inc. purchased a new stake in shares of Waste Management in the fourth quarter valued at about $965,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Up 0.8 %

NYSE:WM traded up $1.69 during mid-day trading on Friday, hitting $207.76. The stock had a trading volume of 1,793,144 shares, compared to its average volume of 1,617,543. The stock has a 50-day simple moving average of $208.97 and a two-hundred day simple moving average of $205.50. The company has a market capitalization of $83.38 billion, a PE ratio of 34.00, a PEG ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the company earned $1.51 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.25 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders 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 dividend on an annualized basis and a yield of 1.44%. Waste Management’s payout ratio is currently 49.10%.

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada lowered their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. CIBC lowered their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Insiders Place Their Bets

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

About Waste Management

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.