Czech National Bank Has $23.44 Million Stake in Waste Management, Inc. $WM

Czech National Bank raised its position in Waste Management, Inc. (NYSE:WM) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,160 shares of the business services provider’s stock after acquiring an additional 4,101 shares during the quarter. Czech National Bank’s holdings in Waste Management were worth $23,438,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WM. Norges Bank bought a new stake in Waste Management in the fourth quarter valued at approximately $1,022,916,000. Corient Private Wealth LLC increased its holdings in shares of Waste Management by 279.0% during the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after acquiring an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. increased its holdings in shares of Waste Management by 23,051.5% during the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after acquiring an additional 767,615 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Waste Management by 3,209.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock valued at $150,466,000 after purchasing an additional 660,776 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Waste Management by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after purchasing an additional 553,605 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WM shares. JPMorgan Chase & Co. increased their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Barclays upped their price target on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Scotiabank increased their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Finally, UBS Group upped their target price on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.89.

Waste Management Trading Down 0.6%

Shares of Waste Management stock opened at $227.74 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a 50-day moving average of $226.69 and a 200-day moving average of $227.87. 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 $91.03 billion, a PE ratio of 32.26, a PEG ratio of 2.81 and a beta of 0.44.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. Waste Management’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $1.92 earnings per share. As a group, sell-side analysts forecast that Waste Management, Inc. will post 8.14 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were 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 was Friday, June 5th. Waste Management’s payout ratio is presently 53.54%.

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.