Norges Bank Buys New Position in Waste Management, Inc. (NYSE:WM)

Norges Bank acquired a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,003,846 shares of the business services provider's stock, valued at approximately $1,009,726,000. Norges Bank owned about 1.25% of Waste Management as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Waste Management by 0.8% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 278,185 shares of the business services provider's stock worth $56,135,000 after acquiring an additional 2,127 shares during the period. Nordea Investment Management AB raised its position in shares of Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider's stock worth $854,446,000 after buying an additional 280,455 shares during the period. Principal Financial Group Inc. boosted its holdings in Waste Management by 6.2% in the third quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider's stock valued at $99,759,000 after acquiring an additional 28,266 shares during the last quarter. Blue Trust Inc. grew its position in Waste Management by 32.3% during the fourth quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider's stock valued at $1,529,000 after acquiring an additional 1,798 shares during the period. Finally, Czech National Bank raised its holdings in shares of Waste Management by 6.4% in the 4th quarter. Czech National Bank now owns 79,192 shares of the business services provider's stock worth $15,980,000 after purchasing an additional 4,798 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

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Waste Management Stock Performance

Shares of NYSE WM traded up $1.93 during trading on Tuesday, reaching $233.44. The stock had a trading volume of 448,770 shares, compared to its average volume of 1,637,836. The firm's 50 day moving average price is $224.97 and its two-hundred day moving average price is $216.79. Waste Management, Inc. has a one year low of $196.59 and a one year high of $235.81. The stock has a market cap of $93.87 billion, a PE ratio of 34.33, a P/E/G ratio of 2.71 and a beta of 0.75. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. On average, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.41%. This is a positive change from Waste Management's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. Waste Management's payout ratio is presently 48.53%.

Analysts Set New Price Targets

WM has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Scotiabank increased their price objective on shares of Waste Management from $250.00 to $255.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Raymond James boosted their price objective on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, CIBC raised their target price on Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and an average price target of $236.65.

Insider Buying and Selling at Waste Management

In other news, EVP Charles C. Boettcher sold 693 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.59, for a total transaction of $152,868.87. Following the transaction, the executive vice president now directly owns 45,542 shares of the company's stock, valued at approximately $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Johnson Varkey sold 560 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.11, for a total transaction of $123,261.60. Following the completion of the sale, the senior vice president now directly owns 9,152 shares of the company's stock, valued at $2,014,446.72. The trade was a 5.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,577 shares of company stock worth $21,662,464. 0.18% of the stock is owned by company insiders.

Waste Management Company 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.