35,938 Shares in Waste Management, Inc. $WM Purchased by Pinebridge Investments LLC

Pinebridge Investments LLC acquired a new position in Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 35,938 shares of the business services provider’s stock, valued at approximately $7,896,000.

Several other large investors also recently bought and sold shares of WM. Brighton Jones LLC increased its holdings in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares in the last quarter. Sprott Inc. bought a new stake in Waste Management in the 1st quarter worth about $325,000. Sei Investments Co. increased its holdings in Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after buying an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Waste Management by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock worth $83,843,000 after buying an additional 148,590 shares in the last quarter. Finally, Glenview Trust co boosted its position in Waste Management by 5.1% in the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after purchasing an additional 162 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 0.7%

WM stock opened at $220.45 on Friday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market cap of $88.53 billion, a P/E ratio of 31.90, a PEG ratio of 2.30 and a beta of 0.45. The business’s 50-day moving average price is $223.62 and its 200-day moving average price is $224.46.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm earned $1.67 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Insider Transactions at Waste Management

In other news, COO John J. Morris sold 4,211 shares of Waste Management stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the transaction, the chief operating officer directly owned 99,929 shares of the company’s stock, valued at $24,320,720.02. The trade was a 4.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Johnson Varkey sold 121 shares of Waste Management stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the transaction, the senior vice president directly owned 9,293 shares in the company, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 4,515 shares of company stock worth $1,099,450. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WM. Robert W. Baird raised their target price on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. TD Cowen raised their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Royal Bank Of Canada raised their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their target price on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.67.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.