Avanza Fonder AB Has $8.20 Million Stake in Waste Management, Inc. (NYSE:WM)

Avanza Fonder AB trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 11.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,973 shares of the business services provider’s stock after selling 4,590 shares during the quarter. Avanza Fonder AB’s holdings in Waste Management were worth $8,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Transce3nd LLC bought a new position in shares of Waste Management during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $33,000. Hurley Capital LLC bought a new stake in Waste Management during the fourth quarter worth $34,000. Pineridge Advisors LLC purchased a new position in Waste Management in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in Waste Management in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 1.0%

Shares of NYSE WM opened at $233.94 on Tuesday. The firm has a fifty day simple moving average of $231.29 and a two-hundred day simple moving average of $223.55. The firm has a market capitalization of $94.14 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. Waste Management’s revenue was up 16.7% on a year-over-year basis. Equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, June 6th. Waste Management’s dividend payout ratio is currently 49.77%.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded shares of Waste Management from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. William Blair restated an “outperform” rating on shares of Waste Management in a research note on Tuesday, April 29th. Robert W. Baird lifted their price target on shares of Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Finally, CIBC raised their price target on Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.00.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the transaction, the senior vice president now directly owns 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the sale, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently 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.