Pictet Asset Management Holding SA Decreases Position in Waste Management, Inc. (NYSE:WM)

Pictet Asset Management Holding SA lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,485,189 shares of the business services provider's stock after selling 167,808 shares during the period. Waste Management accounts for approximately 0.8% of Pictet Asset Management Holding SA's portfolio, making the stock its 22nd largest position. Pictet Asset Management Holding SA owned 0.87% of Waste Management worth $703,276,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in shares of Waste Management by 36.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 456,895 shares of the business services provider's stock worth $92,197,000 after acquiring an additional 122,973 shares in the last quarter. Broadway Wealth Solutions Inc. purchased a new position in shares of Waste Management during the fourth quarter valued at approximately $315,000. Norges Bank purchased a new stake in Waste Management in the 4th quarter valued at $1,009,726,000. Blair William & Co. IL lifted its stake in Waste Management by 69.8% during the 4th quarter. Blair William & Co. IL now owns 103,824 shares of the business services provider's stock valued at $20,951,000 after acquiring an additional 42,684 shares in the last quarter. Finally, Providence Wealth Advisors LLC raised its holdings in shares of Waste Management by 0.3% in the fourth quarter. Providence Wealth Advisors LLC now owns 18,476 shares of the business services provider's stock valued at $3,720,000 after purchasing an additional 49 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Waste Management

In other news, SVP Tara J. Hemmer sold 4,576 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the sale, the senior vice president now owns 58,765 shares in the company, valued at approximately $13,052,881.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Johnson Varkey sold 124 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $234.96, for a total transaction of $29,135.04. Following the completion of the transaction, the senior vice president now owns 8,491 shares of the company's stock, valued at $1,995,045.36. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,577 shares of company stock valued at $21,662,464 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

Waste Management Price Performance

Shares of WM traded up $1.50 during midday trading on Tuesday, hitting $233.01. 492,421 shares of the company traded hands, compared to its average volume of 1,638,698. The stock has a 50-day moving average of $224.97 and a 200-day moving average of $216.79. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management, Inc. has a one year low of $196.59 and a one year high of $235.81. The firm has a market cap of $93.70 billion, a P/E ratio of 34.27, a PEG ratio of 2.71 and a beta of 0.75.

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

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.825 dividend. This is a positive change from Waste Management's previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, March 14th. Waste Management's dividend payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

Several equities analysts have commented on WM shares. Raymond James lifted their target price on shares of Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. CIBC upped their price objective on Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Oppenheimer lifted their target price on Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on shares of Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus boosted their target price on shares of Waste Management from $243.00 to $252.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.65.

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.