Nordea Investment Management AB Grows Holdings in Waste Management, Inc. (WM)
Nordea Investment Management AB boosted its holdings in Waste Management, Inc. (NYSE:WM) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,732,075 shares of the business services provider’s stock after purchasing an additional 160,071 shares during the quarter. Nordea Investment Management AB owned approximately 0.39% of Waste Management worth $127,048,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in WM. Shine Investment Advisory Services Inc. acquired a new position in Waste Management in the second quarter worth $101,000. Northwest Investment Counselors LLC acquired a new position in Waste Management in the second quarter worth $103,000. Bruderman Asset Management LLC acquired a new position in Waste Management in the second quarter worth $110,000. Guardian Life Insurance Co. of America boosted its holdings in Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after purchasing an additional 14 shares during the period. Finally, First Interstate Bank boosted its holdings in Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after purchasing an additional 38 shares during the period. 74.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Waste Management, Inc. (WM) traded down 0.10% during trading on Friday, hitting $78.20. 1,003,464 shares of the stock traded hands. The firm’s 50-day moving average price is $76.29 and its 200-day moving average price is $73.93. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $78.55. The company has a market cap of $34.41 billion, a price-to-earnings ratio of 26.78 and a beta of 0.71.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. Waste Management’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. On average, equities research analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is 58.42%.
A number of equities analysts have commented on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Wednesday, July 19th. Stifel Nicolaus lifted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. BMO Capital Markets reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a report on Friday, September 8th. Finally, Oppenheimer Holdings, Inc. lifted their price objective on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Waste Management has a consensus rating of “Hold” and an average price target of $76.19.
In other Waste Management news, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the sale, the director now directly owns 23,222 shares in the company, valued at $1,734,218.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now owns 51,470 shares in the company, valued at $3,828,338.60. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Waste Management Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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