Thrivent Financial For Lutherans Acquires 1,380 Shares of Waste Management (WM)
Thrivent Financial For Lutherans increased its holdings in shares of Waste Management (NYSE:WM) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,966 shares of the business services provider’s stock after buying an additional 1,380 shares during the period. Thrivent Financial For Lutherans’ holdings in Waste Management were worth $1,637,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Oakworth Capital Inc. increased its stake in Waste Management by 20.3% during the 4th quarter. Oakworth Capital Inc. now owns 3,796 shares of the business services provider’s stock worth $312,000 after buying an additional 641 shares during the period. Sowell Financial Services LLC increased its stake in Waste Management by 7.1% during the 4th quarter. Sowell Financial Services LLC now owns 9,653 shares of the business services provider’s stock worth $849,000 after buying an additional 644 shares during the period. Pittenger & Anderson Inc. increased its stake in Waste Management by 0.9% during the 3rd quarter. Pittenger & Anderson Inc. now owns 78,895 shares of the business services provider’s stock worth $6,175,000 after buying an additional 665 shares during the period. Trustmark National Bank Trust Department increased its stake in Waste Management by 12.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 6,034 shares of the business services provider’s stock worth $472,000 after buying an additional 685 shares during the period. Finally, Commonwealth Bank of Australia increased its stake in Waste Management by 1.5% during the 3rd quarter. Commonwealth Bank of Australia now owns 45,985 shares of the business services provider’s stock worth $3,592,000 after buying an additional 688 shares during the period. 76.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Waste Management stock opened at $85.92 on Thursday. Waste Management has a 52-week low of $70.08 and a 52-week high of $89.73. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77. The company has a market cap of $37,209.22, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.94 and a beta of 0.70.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, March 8th. Waste Management’s dividend payout ratio (DPR) is 42.18%.
Waste Management declared that its board has approved a share buyback plan on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
WM has been the topic of several recent research reports. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Tuesday, December 26th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $95.00 in a research report on Monday, December 11th. UBS began coverage on shares of Waste Management in a research report on Wednesday, March 14th. They issued a “neutral” rating and a $93.00 price objective on the stock. Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Friday, February 16th. Finally, Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.44.
In related news, VP Jeff M. Harris sold 8,820 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total value of $774,396.00. Following the transaction, the vice president now directly owns 80,203 shares of the company’s stock, valued at approximately $7,041,823.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick W. Gross sold 387 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the transaction, the director now directly owns 30,673 shares in the company, valued at $2,708,425.90. The disclosure for this sale can be found here. Insiders sold a total of 106,291 shares of company stock worth $9,154,833 over the last ninety days. Insiders own 0.19% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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