DnB Asset Management AS Buys 19,869 Shares of Waste Management, Inc. (NYSE:WM)

DnB Asset Management AS increased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,776 shares of the business services provider's stock after purchasing an additional 19,869 shares during the period. DnB Asset Management AS's holdings in Waste Management were worth $34,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC grew its holdings in 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 boosted its holdings in Waste Management by 7.1% during the fourth 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 last quarter. Principal Financial Group Inc. grew its position in shares of Waste Management by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider's stock worth $99,759,000 after buying an additional 28,266 shares during the period. Blue Trust Inc. boosted its stake in Waste Management by 32.3% during the 4th quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider's stock worth $1,529,000 after acquiring an additional 1,798 shares during the last quarter. Finally, Czech National Bank increased its stake in Waste Management by 6.4% during 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 in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

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Waste Management Stock Performance

Waste Management stock traded up $1.49 during midday trading on Tuesday, reaching $233.00. 492,421 shares of the company's stock were exchanged, compared to its average volume of 1,613,033. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $235.81. The firm has a market cap of $93.69 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.71 and a beta of 0.75. The stock's 50-day simple moving average is $224.97 and its 200 day simple moving average is $216.79. 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 released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. On average, analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.42%. Waste Management's dividend payout ratio (DPR) is presently 48.53%.

Insider Buying and Selling at Waste Management

In related news, SVP Johnson Varkey sold 124 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total value of $29,135.04. Following the completion of the transaction, the senior vice president now owns 8,491 shares in the company, valued at $1,995,045.36. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Morris sold 19,153 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the transaction, the executive vice president now owns 85,257 shares of the company's stock, valued at approximately $19,158,100.47. The trade was a 18.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,577 shares of company stock worth $21,662,464 over the last 90 days. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WM. Scotiabank lifted their price target on shares of Waste Management from $250.00 to $255.00 and gave the company a "sector outperform" rating in a research note on Monday, February 3rd. Morgan Stanley upped their target price on shares of Waste Management from $227.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. CIBC boosted their price target on Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Friday, January 31st. Finally, Raymond James boosted their target price on Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently 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.