Tredje AP fonden Sells 1,857 Shares of Waste Management, Inc. (NYSE:WM)

Tredje AP fonden reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,000 shares of the business services provider’s stock after selling 1,857 shares during the quarter. Tredje AP fonden’s holdings in Waste Management were worth $9,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parnassus Investments LLC increased its holdings in Waste Management by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after buying an additional 16,213 shares during the last quarter. Capital World Investors increased its stake in shares of Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Waste Management by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after purchasing an additional 221,380 shares in the last quarter. AMF Tjanstepension AB lifted its position in Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares in the last quarter. Finally, Capital International Investors grew its holdings in Waste Management by 0.3% during the fourth quarter. Capital International Investors now owns 1,521,449 shares of the business services provider’s stock valued at $272,491,000 after purchasing an additional 5,103 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, 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 sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WM has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Oppenheimer dropped their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report 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 on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price for the company. Finally, Robert W. Baird decreased their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Down 2.5 %

Shares of NYSE WM opened at $203.14 on Wednesday. The company has a market cap of $81.48 billion, a P/E ratio of 33.25, a PEG ratio of 2.33 and a beta of 0.74. The firm has a 50-day simple moving average of $209.06 and a two-hundred day simple moving average of $208.78. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the business posted $1.51 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.48%. Waste Management’s payout ratio is currently 49.10%.

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.