Swiss National Bank Reduces Stock Holdings in Waste Management, Inc. (NYSE:WM)

Swiss National Bank decreased its stake in Waste Management, Inc. (NYSE:WM) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,133,700 shares of the business services provider’s stock after selling 56,800 shares during the period. Swiss National Bank owned 0.28% of Waste Management worth $228,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WM. Raymond James Financial Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $340,611,000. Swedbank AB boosted its stake in Waste Management by 67.2% during the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares during the period. Parnassus Investments LLC grew its position in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after purchasing an additional 520,096 shares during the last quarter. National Bank of Canada FI increased its stake in Waste Management by 138.0% in the third quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock valued at $149,168,000 after purchasing an additional 416,579 shares during the period. Finally, Robeco Schweiz AG acquired a new stake in shares of Waste Management during the fourth quarter worth about $60,668,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Waste Management stock opened at $222.92 on Friday. The firm has a market capitalization of $89.64 billion, a PE ratio of 32.78, a P/E/G ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $235.81. The firm’s 50-day simple moving average is $220.05 and its 200 day simple moving average is $215.15. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.

Waste Management (NYSE:WM) last announced its quarterly 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 net margin of 12.45% and a return on equity of 37.93%. On average, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. Waste Management’s payout ratio is 48.53%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer boosted their price target on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Scotiabank upped their price target on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. CIBC lifted their price objective on shares of Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Finally, 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. Nine equities research 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.65.

Insider Activity

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 sale, the executive vice president now owns 45,542 shares in the company, valued at $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Johnson Varkey sold 124 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,995,045.36. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,577 shares of company stock worth $21,662,464 over the last three months. 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.