Handelsbanken Fonder AB Trims Stock Holdings in Waste Management, Inc. (NYSE:WM)

Handelsbanken Fonder AB lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,703 shares of the business services provider’s stock after selling 1,406 shares during the period. Handelsbanken Fonder AB’s holdings in Waste Management were worth $37,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Waste Management during the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management during the 1st quarter valued at about $35,000. Fairway Wealth LLC lifted its stake in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management during the second quarter valued at approximately $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the topic of several recent analyst reports. William Blair initiated coverage on Waste Management in a research note on Thursday. They set an “outperform” rating on the stock. Oppenheimer decreased their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets dropped their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $218.89.

Waste Management Price Performance

Shares of WM traded down $1.00 during mid-day trading on Friday, reaching $208.09. The stock had a trading volume of 985,160 shares, compared to its average volume of 1,652,823. The firm has a market cap of $83.51 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $152.90 and a 12 month high of $225.00. The business has a fifty day moving average of $206.74 and a 200 day moving average of $208.52. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the business posted $1.51 EPS. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts predict that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.44%. Waste Management’s payout ratio is 49.10%.

Insider Buying and Selling at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

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.