Swedbank AB Purchases 348,183 Shares of Waste Management, Inc. $WM

Swedbank AB boosted its position in Waste Management, Inc. (NYSE:WM) by 17.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,392,868 shares of the business services provider’s stock after purchasing an additional 348,183 shares during the period. Swedbank AB owned about 0.59% of Waste Management worth $549,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $25,000. RHL Group LLC purchased a new position in Waste Management in the fourth quarter worth $29,000. Financial Network Wealth Advisors LLC grew its stake in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the 4th quarter worth $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Waste Management in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. TD Cowen lifted their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Barclays upped their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. 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. Finally, Wells Fargo & Company lowered their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Sixteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.95.

Waste Management Stock Performance

Waste Management stock traded up $7.16 during mid-day trading on Tuesday, reaching $236.14. The company’s stock had a trading volume of 596,040 shares, compared to its average volume of 2,221,030. The firm’s fifty day moving average price is $220.41 and its two-hundred day moving average price is $225.46. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a market capitalization of $94.83 billion, a P/E ratio of 34.18, a PEG ratio of 2.41 and a beta of 0.44.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 earnings per share. Sell-side analysts predict that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a $0.945 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is currently 54.70%.

Waste Management 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.